MABALACAT CITY, Pampanga – The Luzon International Premier Airport Development Corp. (LIPAD) will develop an “aerotropolis” inside the civil aviation complex here which is seen to generate diverse business opportunities both for local and international investors as well as create jobs for Kapampangans.
An “aerotropolis” is a developed area whose economy is centered on an airport.
Aside from the operations and maintenance of the Clark International Airport (CRK), part of LIPAD’s 25-year concession agreement with the government is to manage and develop the more than 800 hectares of project land within the Clark Civil Aviation Complex that include both airside and landside areas.
The development of the airport and the project land is in accordance with the master plan and feasibility study of Aeroport de Paris Ingenierie (ADPI) completed in 2013 and pursued through a grant by the French government.
As part of its commitment, LIPAD will update the master plan.
Project development is planned to start once the master plan has been approved by appropriate government agencies in 2021. The phasing of the master plan will consider the duration of LIPAD’s 25-year concession period.
“Just like its vision for CRK, LIPAD envisions to transform its project land to be a premier mixed-use township destination North of Manila — an aerotropolis that integrates logistics, general aviation, and tourism to work, lifestyle, and leisure with CRK as the center and key component of this development,” said Bi Yong Chungunco, LIPAD’s chief executive officer, in a statement on Tuesday.
Chungunco said LIPAD plans to leverage on the combined commercial wealth experience of its consortium members as they are closely working with Filinvest Development Corporation and Robinsons Land Corporation for the planning.
The planning team already began engagements with government agencies as well as inception and market studies around LIPAD’s project land in Clark Freeport Zone.
LIPAD is a special purpose company established to manage the operations and maintenance of Clark Airport.
The members of LIPAD Corporation are Filinvest Development Corporation, JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc. and Changi Airports Philippines (I) Pte. Ltd., a wholly-owned subsidiary of Changi Airports International.
The consortium members have vast experience in airport operations, air transportation and property development.
LIPAD Corporation has committed to bring in this expertise to transform CRK into a world-class airport. (PNA)