The Bases Conversion and Development Authority (BCDA) locked in a Php5.1-billion deal with one of South Korea’s leading real estate investment management firms, Korea Real Estate Investment & Trust (KOREIT) Asset Management, and Sky Blue New Clark City Golf & Resort Corp. for a premium golf course and residential villa estate in New Clark City—a development set to create 1,200 direct and indirect jobs and boost the Philippines’ sports and tourism infrastructure.
KOREIT, through its Philippine subsidiaries Eagle-K GC Corp. and Eagle-K RV Corp., will enable its subsidiaries to fully develop and manage the 150-hectare estate. The project covers about 77 hectares for an 18-hole championship golf course and clubhouse, and 52 hectares for a 9-hole extension, along with supporting facilities. The remaining areas will host residential villas and related amenities. Commercial operations of the golf course are targeted to begin by the first quarter of 2026.
BCDA President and CEO Engr. Joshua M. Bingcang said the partnership reflects growing interest from international institutional investors in New Clark City’s long-term development plan.
“KOREIT’s entry shows the level of confidence that major global investors place in New Clark City. This strengthens our investment pipeline and supports our goal of building competitive, sustainable growth centers,” Engr. Bingcang said.
The Php5.1-billion investment is expected to generate significant economic activity in Tarlac and nearby areas, supporting tourism, local businesses, and employment. The development is also projected to attract both domestic and international visitors, positioning New Clark City as a rising sports and lifestyle destination.
“This project goes beyond building new facilities. It creates jobs, opens opportunities for local communities, and supports regional growth. It is another step in making New Clark City a world-class, sustainable district,” Engr. Bingcang added.
The project adds to New Clark City’s expanding portfolio of public and private investments in sports, tourism, and real estate.
