PAGCOR will get a new 40,000 sqm. headquarters near the airport, thanks to a 25-year lease with San Miguel Corporation.
San Miguel Corporation (SMC) and the Philippine Amusement and Gaming Corporation (PAGCOR) have inked a 25-year lease agreement for a 2-hectare portion of the 15-hectare Nayong Pilipino property in Pasay City. This strategic partnership will see SMC construct a new P2.45 billion headquarters for PAGCOR at no cost to the government.
The remaining 13 hectares of the property will be utilized by SMC for its ambitious airport development project. This project aims to significantly contribute to the country’s economic growth by addressing the pressing issue of airport congestion.
SMC Chairman and CEO Ramon S. Ang, as reported by Daily Tribune, expressed optimism about the partnership, stating, "Our goal is to maximize the potential of this property for the public’s benefit, ensuring the success of our airport development."
PAGCOR Chairman and CEO Alejandro Tengco highlighted the benefits of the new headquarters, emphasizing its role in consolidating operations, creating a world-class facility.
“This project will be more than just a structure,” Tengco said, as reported by The Daily Tribune.“It reflects PAGCOR’s commitment to creating a world-class work environment for its employees; a reflection of our identity, core values and aspirations.
“For many years, PAGCOR has operated across various rented locations, with our employees spread out and often working under less-than-ideal conditions.
“While we have always managed to deliver on our mandates, we’ve long dreamed of a day when we could bring everyone together under one roof – a place where we could foster a stronger sense of community, collaboration and shared purpose.”
PAGCOR will also generate additional income by leasing out unused space in the new building.
Read related article: PAGCOR CEO: Online Gaming is the Future of the Industry
Comments