San Miguel funding, building new PAGCOR headquarters

MANILA -- The Philippine Amusement and Gaming Corporation (PAGCOR)and San Miguel Corporation (SMC) have broken ground on the gaming regulator's new office building at the Bagong Nayong Pilipino complex in Pasay City.

PAGCOR said its Corporate Center, which costs P2.45 billion, will span 40,000 square meters with an additional 15,000 square meters for fit-out space and is being built at "no cost" to the agency.

PAGCOR Chairman Alejandro Tengco noted that the state regulator has been renting office spaces for over 40 years with its workforce dispersed across multiple locations.

“Ang araw na ito ay katuparan ng isang pangarap para sa PAGCOR na magkaroon ng sariling tahanan,” he said.

The office will be built on a a two-hectare portion of the 15-hectare Nayong Pilipino lot. The remaining 13 hectares, meanwhile, will be used by San Miguel for infrastructure to complement airport operations. The Ramon Ang-led company leads the consortium that operates the country's main gateway, the Ninoy Aquino International Airport.

San Miguel is fully funding the building's construction. PAGCOR said it also expects to receive additional revenues from renting out unused portions of the new corporate office once it is completed. Tengco said these should be enough to cover the building’s maintenance costs.

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.

San Miguel Corp. to build new PAGCOR office on Nayong Pilipino property

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