PAGCOR and San Miguel Corporation (SMC) broke ground Thursday on the Philippine gaming regulator’s new corporate office building in Pasay City – a 40,000 square meter facility located close to Manila’s Ninoy Aquino International Airport and the Entertainment City precinct.
Valued at Php2.45 billion, the PAGCOR Corporate Center will be fully financed and constructed by SMC at no cost to PAGCOR, part of a recent deal under which SMC leased 15 hectares of land from the regulator. SMC will utilize 13 hectares for its own purposes while developing the new PAGCOR office on a two-hectare portion of the property.
Speaking at the groundbreaking ceremony, PAGCOR Chairman and CEO Alejandro Tengco noted that the agency has traditionally operated out of various rented spaces under less-than-ideal conditions, with its workforce dispersed across multiple locations.
“We are truly blessed to witness this historic moment as we lay the groundwork for a vision that reflects our identity, core values and aspirations as an organization,” he said.
Tengco also reiterated that while the floor area of the new corporate center will cover 40,000 square meters, PAGCOR will not utilize the entire space.
“We plan to lease some of the commercial spaces to generate rental income,” he explained. “These rental earnings should be enough to cover the building’s maintenance costs.”
According to information provided by the regulator, the PAGCOR Corporate Center was designed by JSLA architectural design firm and will be built by New Golden City Builders – two companies known for big-ticket infrastructure projects in the country.
“SMC only commissioned the best architects and construction firms to ensure the project’s completion by 2028,” said SMC Chairman Ramon Ang, adding that the recent land deal between his company and PAGCOR highlighted how private-public partnerships can maximize the potential of government assets to create more economic opportunities.
“This is a mutually beneficial partnership between PAGCOR and SMC. While SMC will construct the Corporate Center, we will also use PAGCOR’s Nayong Pilipino property to build infrastructure that will complement airport requirements.”
Added Tengco, “The Nayong Pilipino complex, once known for its rich attractions, culture and history, had long lain dormant. Today, it is set to be transformed into a vibrant symbol of progress and opportunity for PAGCOR.”
The construction of PAGCOR’s Corporate Center is part of the 25-year lease agreement entered into by the state gaming agency with SMC last December 12, 2024.
Aside from funding the building construction, SMC will pay monthly rental fees – with an annual escalation – for the use of PAGCOR’s 13-hectare Nayong Pilipino property for aviation-related projects.
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