Why it matters:
The relocation of critical BSP operations outside Metro Manila is expected to reduce congestion in the capital, strengthen institutional resilience during natural disasters or emergencies, and stimulate economic growth in Central Luzon by bringing jobs, investments, and services to the region.
“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,” said BCDA President and CEO Engr. Joshua M. Bingcang.
Driving local development
The construction and eventual operation of the BSP Complex is set to generate thousands of jobs and boost consumer activity, especially as BSP employees and their families relocate to the area.
“This movement of skilled workers and their families will invigorate the local economy, generating new demand for housing, retail, transport, and public services,” Bingcang added.
To help support this demographic shift, BCDA has also broken ground on a nearby affordable housing development under the Marcos administration’s Pambansang Pabahay Para sa Pilipino (4PH) Program. The first phase will offer 800 units, prioritizing government workers relocating from Metro Manila.
Resilient, green, future-ready
The BSP Security Complex will be built to operate independently and securely, with design features that reflect New Clark City’s vision as a smart, green metropolis.
The facility is being developed to meet Leadership in Energy and Environmental Design (LEED) standards, promoting energy efficiency, climate resilience, and sustainability. Its masterplan — crafted by acclaimed Filipino firm Aidea, Inc. — earned international recognition at the 2022 Architecture MasterPrize for its fusion of modern Filipino identity and institutional strength.
What’s next
Detailed design: Completion by August 2025
Contractor procurement: Targeted for December 2025
Lease terms: 50 years, renewable for another 25
The BSP initially targeted a 2022 opening for the new facility, but the timeline was pushed back, according to earlier reports. Completion is now slated for 2028.
The BSP Complex forms a cornerstone of the government’s long-term push for responsive, resilient governance — ensuring uninterrupted operations even in the face of urban and environmental disruptions. —Ed: Corrie S. Narisma
