PAGCOR Secures 25-Year Lease for New Headquarters in Pasay City
The Philippine Amusement and Gaming Corporation (PAGCOR) has signed a 25-year lease agreement with San Miguel Infrastructure (SMC) to construct a new headquarters in Pasay City. The development marks a significant step for PAGCOR as it consolidates its operations into a dedicated facility.
The project, valued at PHP2.5 billion (approximately $420 million), will feature a state-of-the-art office building spanning over 40,000 square metres. The costs include PHP2 billion allocated for construction and an additional PHP450 million for furnishing. Notably, the project will be fully financed and constructed by SMC at no cost to PAGCOR.
PAGCOR Chairman and CEO Alejandro Tengco commented:
“This project will be more than just a structure. It reflects PAGCOR’s commitment to creating a world-class work environment for its employees; a reflection of our identity, core values, and aspirations.”
In addition to the office complex, 13 hectares of the 15-hectare property will be utilised for SMC’s initiatives, aligning with the company’s broader infrastructure goals.
From Rented Spaces to a Unified Hub
PAGCOR has operated out of multiple rented locations for years, including its current headquarters in the Met Live building, an 11-story structure in Manila’s Bay Area. Tengco highlighted the significance of the move, saying:
“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.”
The new facility will also generate additional revenue for PAGCOR through rental income from unused portions of the building.
Shared Vision for Development
San Miguel Corporation Chairman and CEO Ramon Ang underscored the importance of the project, stating:
“Our goal is to maximise the potential of this property for the public’s benefit. The new PAGCOR headquarters will be a key part of this plan, providing a modern space to support their crucial role in funding government programs that uplift the lives of many Filipinos.”
Potential Impacts
The new headquarters is expected to centralise PAGCOR’s operations, improve working conditions for its employees, and enhance efficiency in fulfilling its mandate to support government programs. This collaboration with SMC highlights a shared commitment to advancing public welfare through strategic infrastructure projects.
