Suyen Corporation Invests in Clark Global City
Pampanga, Philippines—Ben Chan’s Suyen Corporation, the group behind the Bench clothing brand, is expanding its footprint in the real estate business with an investment in Clark Global City.
Suyen Corp. and Global Gateway Development Corp (GGDC), which is part of the Udenna Group, recently signed a memorandum of agreement for the sublease of 2,886 sqm at the latter’s 177-hectare leasehold within the Clark Freeport Zone in Pampanga.
“We thank Suyen for choosing to invest in Clark Global City and for sharing our vision for a central business district that will create more opportunities for Filipinos beyond the country’s major cities that have become highly congested,” said GGDC Chairman Dennis Uy.
Suyen plans to build an office tower for lease in Clark Global City, which has been attracting the biggest demand for office spaces outside of Metro Manila.
“Our government has been working hard to promote Clark and to make it much more accessible. There’s a lot that’s been done to develop Clark and even more that can be done to help it reach its full potential, so it’s not hard to see it becoming the next big metropolis it’s poised to be,” said Suyen Chair and CEO Ben Chan.
Clark Global City is among the four major investment districts in Clark, a former military base being transformed into the country’s next big metropolis as part of efforts to decongest Metro Manila and make economic growth more inclusive.
Clark Global City was previously envisioned as an aviation-focused logistics park exclusively developed by GGDC. When it took over in 2017, the Udenna Group welcomed local partners to develop it into a central business district. The group has since signed a sublease agreement with SM Prime Holdings Inc. and a memorandum of agreement with Century Properties Group for a joint venture.