South Korea’s Luxia Corp. is set to invest P4.4 billion in a high-end mixed-use development featuring a hotel and serviced apartments in Clark Freeport.
The company on Monday, March 24, signed a lease agreement with Clark Development Corporation for a 20,000-square-meter site along Creekside Road, marking its entry into the Philippines’ upscale property segment.
The project is expected to support Clark’s growing Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, positioning the area as a hub for premium business and leisure tourism.
Luxia, a subsidiary of Seoul-based Luxia Holdings, Inc., is known for its upscale developments. Paul Bae, director of J. Partners and Architects and principal architect for a Luxia project in Seoul, said the Clark development would “bring specialty and excellence of high-end residences” to the area.
“We believe Luxia will be a catalyst—a bridge taking Clark to the next level, providing high-end residences, a premium hotel, hospitality, and retail,” Bae added.
The agreement was signed by CDC president and CEO Agnes Devanadera and Luxia officials led by CEO Chae Ji-won.
Once completed, the project is expected to enhance Clark’s appeal as a destination for high-value tourism and investment.
