NEW CLARK CITY, Tarlac – A new Bangko Sentral ng Pilipinas (BSP) Security Complex is set to rise in New Clark City, following the approval of its detailed development plan by the Bases Conversion and Development Authority (BCDA).
This project aligns with President Ferdinand R. Marcos Jr.’s commitment to long-term infrastructure development, as highlighted in his fourth State of the Nation Address (SONA).
“Asahan ninyo, magpapatuloy ang malawakang programang pang-imprastraktura ng Administrasyon… Nagpupundar po kasi tayo para sa kinabukasan. We are not building only for today, we are building also for tomorrow,” he stated.
According to BCDA, the approval of the plan paves the way for the full-scale development of one of the country’s most significant decentralization efforts to date.
Covering an area of 31.3 hectares, the planned BSP Security Complex aims to help decongest Metro Manila, redistribute economic activity, and strengthen national resilience by relocating key institutional functions to a safer, future-ready location.
“We commend BSP for leading this bold and forward-looking move. 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,” BCDA President and CEO Joshua Bingcang said.
The construction of the new complex is expected to generate jobs, while the eventual relocation of BSP employees and their families is seen to boost consumer activity and increase demand for housing and services across Central Luzon.
“This movement of skilled workers and their families will invigorate the local economy, generating new demand for housing, retail, transport and public services in Tarlac and nearby provinces,” Bingcang added.
In support of this initiative, BCDA recently broke ground on a nearby affordable housing project under the Marcos administration’s Pambansang Pabahay Para sa Pilipino Housing Program.
The first phase will offer more than 800 housing units for public sector employees, including those relocating from Metro Manila.
The new BSP Complex will provide a secure and self-sufficient environment for the central bank’s essential functions.
It will also feature open spaces, in line with New Clark City’s smart and green city design.
Furthermore, the facility is being designed to achieve Leadership in Energy and Environmental Design certification, meeting world-class standards for energy efficiency, climate resilience, and environmental performance.
Its architecture, by acclaimed Filipino firm Aidea, Inc., earned recognition at the 2022 Architecture MasterPrize for blending modern Filipino identity with institutional security and efficiency.
This national project supports long-term goals of secure and responsive governance and aims to ensure the continuity of BSP operations even during disruptions such as natural disasters.
According to the current development timeline, the detailed design phase is expected to be completed by August 2025, with the procurement of the general contractor planned for December 2025.
The long-term lease agreement between BCDA and BSP is effective for 50 years, renewable for another 25, providing a stable base for central bank operations outside Metro Manila. (CLJD/MAECR, PIA Region 3-Tarlac)