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PROACTIVE PROPERTIES led by Millennial CEO, Jettson “Jet” Yu inked a deal for a new development inside 177-hectare Clark Global City with Uy-led Udenna Group.
In a statement during the ceremonial signing, the breakthrough developer said it partnered with Global Gateway Development Corp. (GGDC) Tycoon, Dennis Uy by leasing and plans to build a commercial building.
Yu-led Proactive Properties joins the league of high-profile developers in the “New Center” after Udenna Group signs agreements with SM Prime Holdings Inc., Century Properties Inc. and Suyen Corp. for a joint venture.
Jet Yu, the 28-year-old Founder and CEO of fastest-growing commercial real estate advisory group, PRIME Philippines with offices in Manila & Shanghai, is one of the first movers of the new Central Business District. Born out of this company's insights and experience in Philippines real estate consulting is Proactive Properties-- a consortium spearheaded by Jet Yu, along with a group of investors, to focus on commercial property development.
“Clark is showing phenomenal growth which is led by this key development and infrastructure.” says Jet Yu of Proactive Properties.
“This partnership with Udenna, I believe, will create a continuous development for the country by moving into key cities outside of Metro Manila. This prime development is our first step to city-enabling.” he added.
Set to rise in Clark is Proactive Properties’ flagship development-- a millennial-inspired, Instagramable commercial building leading the commercial sector in the master planned development that will house international anchor tenants. The second phase of the development, covering 2,800 square meters, will be a 12-storey office building which shall be designed for international companies who want to enjoy the tax incentives of Clark.
“Real estate business has evolved rapidly in the past ten years driven by the millennial market and technological advancements. While most developers and investors still rely on conventional strategies and practices, a few have already taken advantage of newer perspectives and better insights that have proven to be the most effective in this new generation” says Yu about the millennial-driven market.
Yu’s group of property consultants under PRIME Philippines note Clark’s potential to shifting the growth hub to Central Luzon.
PRIME Philippines’ Research Group noted that infrastructure development is a key contributor toward an upbeat and positive outlook, led by projects promoting connectivity like the Manila-Clark railway pushing major developers towards certain regional hotspots around Metro Manila.
“Clark Global City is well positioned to be the first Central Business District in Pampanga given its premium infrastructures and close proximity to the Clark International Airport. On top of this, we see a bullish demand for office spaces and retails spaces in Clark for the next 5 years backed by its growing and talented population of more than 2,100,000. Our projection shows that a minimum of 300,000 square meters of office spaces and 200,000 square meters of commercial retail spaces will be needed within the next 5 years.” Mr. Yu said in a recent panel discussion after their research publication launch of the Philippine Real Estate Outlook for 2019.
“We share the same vision of “The New Center” with Udenna Group, that’s why we chose Clark Global City. We see the need of an additional Central Business District outside the congested areas of Makati, Taguig and Pasig.”
Udenna’s Clark Global City is envisioned to be the next central business district and tagged to be the “Philippines’ new center for business, culture, entertainment and leisure”.
“Having Proactive Properties onboard in our endeavor of building CGC as a new central business district aligns with our mission of building this generation’s new center of commerce, life and innovation,” GGDC Chairman Dennis A. Uy said.
“It is notable that Proactive Properties is not just an up and coming industry player, it is an offshoot of a six-year long industry insights and experience gained by PRIME Philippines. It has a fresh perspective and, being led by millennials, it understands the needs of this generation in terms of work-life balance and how a business district can inspire that.”
“We are confident that Proactive Properties’ mixed use development will further establish and help fulfill CGC’s purpose of becoming the next central business district in the northern part of Luzon,” Uy concludes.
ABOUT PRIME PHILIPPINES
PRIME Philippines is a privately held property consultancy and advisory company headquartered in the Philippines. It was founded in 2013 by a young entrepreneur who saw the need of better real estate solutions in a rapidly changing economy driven by the millennial market and technological advancements.
In an industry that has stood the test of time, the company is challenging norms, breaking boundaries, and is reinventing the standard of real estate.
Within five years, PRIME has reached a company portfolio of Php 30B worth of successful deals, in over 10 countries transacted and more than 80 projects completed with over 3000 clients served, tagging the company as the industry’s youngest and fastest growing.
ABOUT GLOBAL GATEWAY DEVELOPMENT CORP.
Global Gateway Development Corp. is the owner and developer of Clark Global City. It is a wholly owned subsidiary of Udenna Development (UDEVCO) Corp., the real estate and property development arm of one of the fastest-growing holding companies in the Philippines — Udenna Corporation.