Filipinos in South Korea

Business World: $24-billion stock wipeout attracts top fund to the Philippines

THE PHILIPPINE Stock Exchange index has slumped around 18% from February to May. — PHILSTAR/KRIZ JOHN ROSALES AFTER losing $24 billion in value from its January peak, Philippine stocks are ready for a comeback. That’s according to Alan Richardson, an investment manager at Samsung Asset Management Co., whose...

To Rise $14 Billion USD "Pollution Free" Hi-tech City of New Clark, Philippines' 95 Km Sq size

New Clark's developers, BCDA Group and Surbana Jurong, plan to start construction in 2022. - BCDA Group

The Philippines is planning a $14 billion 'pollution-free' city that will be larger than Manhattan

Manila, the hyper-dense capital of The Philippines, is known for its traffic jams. In a 2016 survey, navigation company Waze ranked Manila as having the "worst traffic on Earth."

The city's reliance on cars also exacerbates its growing air-pollution problem.

As a possible solution to Manila's smog and gridlock, the country plans to build an entirely new, more sustainable city called New Clark.

Plans for the $14 billion development — which will be larger than Manhattan — call for drones, driverless cars, technologies that will reduce buildings' water and energy usage, a giant sports complex, and plenty of green space.

A rendering of New Clark, a planned city for the Philippines. BCDA Group


Over the next three decades, the Philippines aims to build out New Clark about 75 miles outside Manila.

According to the development's plan, the city will eventually stretch 36 square miles — a land area larger than Manhattan — and house up to 2 million people.


New Clark will be divided into five districts, each with a specific function: government, business, education, agriculture, and recreation.


While New Clark's exact design is not fleshed out, developers say the urban plan will prioritize environmental sustainability and climate resilience.


With a minimum elevation of 184 feet above sea level, the city will likely not see much flooding.


To reduce carbon emissions, two-thirds of New Clark will be reserved for farmland, parks, and other green space.


The buildings will incorporate technologies that reduce energy and water usage.


Driverless cars, running on electric energy rather than CO2-emitting gas, will roam the streets.


Additionally, the city will feature a giant sports stadium and an agro-industrial park.


New Clark's developers, BCDA Group and Surbana Jurong, plan to start construction in 2022.


A new railway line could reduce the travel time between the two cities in half.

In late May, BCDA started the bidding process for companies to design, build, finance, operate, and maintain power and water systems in New Clark City.


The Philippines also struggles with economic development, and building an eco-city from scratch will come with a hefty price tag.


According to Wong, public-private partnerships will help finance the project.


In recent years, countries around the world — especially China — have unveiled plans for pie-in-the-sky urban developments.


Building cities from scratch rarely solve existing problems, but designing them can help urban planners imagine what's possible.


The fate of this project is still in the hand of the Duterte Administration as Budget is always required, though this project is feasible but priorities are also queuing.

Another 10 beautiful Philippine Islands that aren't BORACAY

Top 10 most famous and most beautiful islands in the Philippines that aren't Boracay- Overnight Camping Experience Just because Boracay is closed for 6 months, doesn't mean that your trip to the Philippines should be cancelled The Philippines has just closed its best-known holiday island Boracay to tourists for...

FINALLY: LTFRB asks UBER to pay discounted ₱190 Million to lift the remaining 2 weeks Suspension

Drivers and operators of UBER System Inc., gather and meet outside its main office in Mandaluyong City, August 15 2017, a day after the Land Transportation and Franchising and Regulatory Board suspended its accreditation and operation. Photo: Manila Bulletin  The LTFRB late Friday night (25th August 2017) announced...

UBER Asked to pay LTFRB ₱6 Billion to avoid 1-month suspension: Too much

Uber Philippines asked to pay ₱6 Billion to avoid 1-month suspension. Photo: Tech Wire Asia A transport group leader on Wednesday claimed that Transport Network Company (TNC) Uber Systems Inc. should pay a fine of P6 billion—and not ₱10 million as ordered by the government—in place of its...

Duterte signed “Free Tuition Fee law” for all State Universities and Colleges- ₱100 billion Budget

[Free Tertiary Education] Free Tuition fee law in the Philippines Universal Access to Quality Tertiary Education Law for bottom 20% poor but deserving Filipino students - Free tuition fee for all state colleges and universities - Free Library access - Free  ID - Free laboratory access President Duterte has...

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