PAGCOR and SMC break ground on new corporate office in Pasay City
PAGCOR Chairman and CEO Alejandro Tengco (extreme left) and SMC chairman Ramon Ang (2nd from right) lead the ceremonial laying of the time capsule during the groundbreaking for the PAGCOR Corporate Center which will be built by SMC. With them are the members of the PAGCOR Board, SMC officials, and Fr. Tito Caluag, who blessed the site.
The Philippine Amusement and Gaming Corporation (PAGCOR) and San Miguel Corporation (SMC) officially broke ground today for the construction of PAGCOR’s new corporate office building at the Bagong Nayong Pilipino complex in Pasay City.
The PAGCOR Corporate Center, valued at P2.45 billion, will be fully financed and built by SMC at no cost to PAGCOR, according to PAGCOR Chairman and CEO Alejandro Tengco, who led the groundbreaking ceremony alongside SMC chairman Ramon Ang.
For over 40 years, PAGCOR has operated from various rented spaces under less-than-ideal conditions, with its workforce spread across multiple locations. During the ceremony, Tengco expressed his excitement, saying, “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.")
He emphasized the significance of the project as a milestone for the organization’s identity and future.
The new corporate center will cover a total floor area of 40,000 sqm., with an additional 15,000 sqm. allocated for comprehensive fit-out. While PAGCOR will not occupy all of the space, Chairman Tengco mentioned that some commercial spaces will be leased to generate rental income, which is expected to cover the building’s maintenance costs.
Tengco highlighted the collaboration between PAGCOR and SMC as an example of a successful public-private partnership, demonstrating how government assets can be utilized to create more economic opportunities.
He added, “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.”
In his remarks, SMC chairman Ramon Ang described the project as a mutually beneficial partnership. “While SMC will construct the Corporate Center, we will also use PAGCOR’s Nayong Pilipino property to build infrastructure that will complement airport requirements,” he said.
Designed by the JSLA architectural firm and to be constructed by New Golden City Builders, the PAGCOR Corporate Center is set to be completed by 2028. Both firms are known for their involvement in large-scale infrastructure projects in the country.
The construction of the new office building is part of a 25-year lease agreement signed between PAGCOR and SMC in December 2024. As part of the agreement, SMC will not only finance the construction of the building but will also pay monthly rental fees for the use of PAGCOR’s 13-hectare Nayong Pilipino property, with annual escalations, for aviation-related projects.
This partnership marks a significant step in the revitalization of the Nayong Pilipino complex, transforming it into a hub for both government and private sector initiatives.
