Officials approve central bank complex in New Clark City

The Bases Conversion and Development Authority (BCDA) has approved the detailed development plan for the Bangko Sentral ng Pilipinas’ (BSP) new complex in New Clark City, allowing construction of the 31.3-hectare site to proceed, the agency confirmed Thursday.

The BCDA said the project aligns with broader government efforts to ease congestion in Metro Manila while driving economic activity in Central Luzon. The BSP complex will be located in Capas, Tarlac and is set to house critical operations of the central bank.

“We commend BSP for leading this bold and forward-looking move,” said BCDA President and Chief Executive Officer Joshua Bingcang. “By transferring critical operations of the central bank to New Clark City, we’re accelerating countryside development, stimulating job creation, and strengthening our institutions for generations to come.”

The site will operate under a 50-year lease and is designed to be secure and self-sufficient. It will include open spaces and sustainability features consistent with New Clark City’s smart city master plan.

The development is also expected to generate direct employment for residents of Tarlac and neighboring provinces, with construction and support services creating local demand in housing, retail, transport, and public infrastructure.

“This movement of skilled workers and their families will invigorate the local economy,” Bingcang added.

The BCDA noted that the complex is being designed with sustainability in mind and is targeting Leadership in Energy and Environmental Design (LEED) certification. The facility is expected to meet international standards for energy efficiency, climate resilience, and environmental performance.

Construction of the BSP complex is part of the broader transformation of New Clark City into a modern, disaster-resilient hub for government operations and innovation.