PAGCOR's new 40,000 sq meter headquarters at Nayong Pilipino will consolidate operations and generate revenue through leased commercial space.
The Philippine Amusement and Gaming Corporation (PAGCOR) broke ground on its new corporate headquarters at the Bagong Nayong Pilipino complex. The PHP2.45 billion PAGCOR Corporate Center, a sprawling 40,000 square meter facility, marks a significant turning point for the agency, which has operated from rented and dispersed spaces for over four decades.
The sheer size of the new building underscores the scale of PAGCOR's ambitions. With 40,000 square meters of floor space, plus an additional 15,000 square meters for fit-out, the Corporate Center will finally provide a unified and modern home for PAGCOR's workforce. Chairman and CEO Alejandro Tengco emphasized the historic nature of the event, stating, "Ang araw na ito ay katuparan ng isang pangarap para sa PAGCOR na magkaroon ng sariling tahanan," (This day is the fulfillment of a dream for PAGCOR to have its own home).
The building's substantial size also presents an opportunity for PAGCOR to generate revenue. Chairman Tengco revealed plans to lease out some of the commercial spaces within the center, anticipating that the rental income will cover the building's maintenance costs. This strategic approach highlights the agency's focus on maximizing the value of its new asset.
The project is a result of a public-private partnership with San Miguel Corporation (SMC), which will fully finance and construct the Corporate Center at no cost to PAGCOR. SMC Chairman Ramon Ang highlighted the mutually beneficial nature of the agreement, noting that SMC will also utilize PAGCOR’s 13-hectare Nayong Pilipino property for aviation-related infrastructure, complementing airport requirements.
Designed by JSLA architectural design firm and built by New Golden City Builders, both known for their expertise in large-scale projects, the PAGCOR Corporate Center is slated for completion in 2028.
The 25-year lease agreement between PAGCOR and SMC, signed in December 2024, not only covers the building construction but also includes monthly rental fees (with annual escalations) paid by SMC for the use of the Nayong Pilipino property. This comprehensive partnership promises to revitalize the Nayong Pilipino complex, transforming it into a "vibrant symbol of progress and opportunity."
Read related article: PAGCOR Partners with SMC for New Headquarters
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