SMC to build PAGCOR’s P2.45-B corporate hub

The Philippine Amusement and Gaming Corporation (PAGCOR) and San Miguel Corporation (SMC) officially broke ground on a P2.45-billion corporate office building in Pasay City’s Bagong Nayong Pilipino complex, marking a key milestone in their partnership.

PAGCOR Chairman and CEO Alejandro Tengco, alongside SMC Chairman Ramon Ang, led the ceremony for the state gaming regulator’s future headquarters, which is set for completion by 2028. The facility will span 40,000 square meters, with an additional 15,000 square meters allocated for interior fit-out.

“This moment represents a vision that embodies our identity, values, and aspirations as an organization,” Tengco said. He added that PAGCOR plans to lease out portions of the building’s commercial spaces to generate rental income, which will help cover maintenance costs.

The project is part of a 25-year lease agreement signed between PAGCOR and SMC in December 2024. Under the deal, SMC will fully finance and construct the corporate center while also paying monthly rental fees for PAGCOR’s 13-hectare Nayong Pilipino property, which will be developed for aviation-related infrastructure.

Ang emphasized the mutual benefits of the partnership, stating, “While SMC is building the Corporate Center, we are also developing projects that will complement airport requirements, ensuring long-term value for both parties.”

With the development now underway, the new corporate center is expected to modernize PAGCOR’s operations while contributing to the expansion of Pasay’s business district.