Development plan for BSP approved by BCDA in New Clark City
The Bangko Sentral ng Pilipinas (BSP) Security Complex, a 31.3-hectare facility, is set to revolutionize New Clark City in Capas, Tarlac. This ambitious project aims to decentralize and decongest Metro Manila by relocating critical central bank functions to a safer, future-ready site.
The complex, designed with modern Filipino identity and institutional security in mind, is set to be secure, self-sufficient, and built according to Leadership in Energy and Environmental Design (LEED) standards. This emphasis on energy efficiency, climate resilience, and environmental sustainability underscores the BSP's commitment to creating a sustainable and resilient infrastructure.
The architecture for the BSP Security Complex has been prepared by Aidea, Inc., a renowned Filipino architectural firm. The complex's design has already received recognition at the 2022 Architecture MasterPrize, a testament to the quality and innovation of the project.
The Bases Conversion and Development Authority (BCDA) has approved the detailed development plan for the complex. The detailed design phase is scheduled to conclude by August 2025, with the procurement of the general contractor slated for December 2025. The long-term lease agreement between BSP and BCDA is for 50 years, renewable for another 25 years.
One of the key impacts of the BSP Security Complex will be economic. Construction and operation will generate thousands of jobs, stimulating economic activity and job creation in Central Luzon. Relocated BSP employees and their families will drive consumer demand, spurring housing, transportation, retail, and public service growth in the region.
The complex is also expected to help decongest Metro Manila, redistribute economic activity, and strengthen national resilience. By moving BSP functions outside the capital, the project aims to reduce congestion in the city and promote countryside development, redistributing economic activities to New Clark City and surrounding provinces.
BCDA Executive Vivencio Dizon remarked that the facility will generate jobs, while BSP Governor Felipe Medalla stated that the complex will be secure and self-sufficient for its essential functions. BCDA President Jake Bingcang commended the BSP for leading this move, stating it will accelerate countryside development, stimulate job creation, and strengthen institutions for future generations.
The BSP Security Complex, with its blend of modern Filipino identity, security, efficiency, and commitment to sustainability, is poised to make a significant impact on the economic and institutional landscape of the Philippines.
- The BSP Security Complex, designed with modern Filipino identity and sustainable LEED standards, will stimulate real-estate growth in New Clark City by attracting relocated BSP employees and their families.
- By investing in the BSP Security Complex, the financial sector stands to benefit from the project's potential for job creation and economic stimulation in Central Luzon.
- The industry sector, including construction, will play a crucial role in the BSP Security Complex's development, as it aims to revolutionize New Clark City with its self-sufficient and secure infrastructure.
