Clark Freeport bags 2 investments worth $29.5M

MANILA, Philippines –  The Clark Development Corp. (CDC) has reported investments worth $29.5 million from Taiwanese firm Haitima Clark Corp and real estate company Ritzville Corp.

CDC president Benigno N. Ricafort signed an agreement with Haitima Clark Corp. president Shen, Ming-Show and the company’s general manager, Chen Chun-Fu for the establishment of a manufacturing plant for various valves, flanges, pipes, fittings, and other metal accessories for export.

According to CDC, Haitima is initially investing $25 million for its first year of operations and is expected to generate jobs for 150 employees also on its first year.

The CDC added that the manufacturing plant will be built in a 15,000-square meter lot along M.A. Roxas Highway, which is near the Bureau of Customs Clark office.

On the other hand, officials of Ritzville Corp. recently held a groundbreaking ceremony to signal the start of construction work for the Clark Freeport’s premier condominium complex.

Ritzville president Cho Young Ho said the company is investing an initial $4.5 million for the project. Ho said Ritzville is the second Clark-based investment of managing director Ki Young Hong, founder of New Well Being Spa and Lohas Hotel, also in Clark.

He added that Ritzville “is one of the most exclusive addressed in Central Luzon which redefines luxury, giving comfort a new name, and security a priority.”

“Ritzville is located along Malago Street but is more accessible through E. Aguinaldo Avenue. Or for those familiar with New Well Being Spa and Lohas Hotel, the condo complex is simply beside these equally-world class establishments,” Ho said.

“Ritzville offers all the elegance and comfort of a private home within a 7.19-hectare wide upscale lifestyle estate,” he noted.

According to Ho, Ritzville Corp. will continue to invests in research and Development to understand what Clark residents and investor need.

He described Ritzville as a fusion of modern Mediterranean-inspired condo-type buildings that will rise in a bed of landscaped parks.

“The site development plan has been carefully studied to give pleasure to its residents,” Ho said. “Also, the commercial complex and clubhouse are incorporated with a fusion of high technology and modern art to cater to all residents.”