{"id":777021534,"date":"2024-12-16T08:54:19","date_gmt":"2024-12-16T11:54:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777021534"},"modified":"2026-04-22T03:14:42","modified_gmt":"2026-04-22T06:14:42","slug":"pagcor-signs-25-year-lease-with-san-miguel-for-nayong-pilipino-property","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-signs-25-year-lease-with-san-miguel-for-nayong-pilipino-property","title":{"rendered":"PAGCOR signs 25-year lease with San Miguel for Nayong Pilipino property"},"content":{"rendered":"\n

PAGCOR’s new corporate office building will be built on the site.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) and San Miguel Corporation (SMC) have signed a 25-year lease agreement<\/strong> allowing SMC to use PAGCOR\u2019s 15-hectare Nayong Pilipino property in Pasay City. SMC will also build PAGCOR\u2019s new office, which will cover 40,000 square meters of the site. <\/p>\n\n\n\n

The cost of the office development will be PHP2.45bn (US$41.7m), which includes PHP2bn for construction and PHP450m for interior work. It will be financed and built by SMC at no cost to PAGCOR.<\/p>\n\n\n\n

The lease agreement allows 13 hectares to be used for SMC’s projects, mainly to support airport infrastructure. PAGCOR anticipates additional income<\/strong> from renting out unused areas in the new office once it’s finished.<\/p>\n\n\n

\n
\"\"
PAGCOR Chairman and CEO Alejandro H. Tengco (left) and SMC Chairman Ramon S. Ang. Source: PAGCOR.<\/figcaption><\/figure>\n<\/div>\n\n\n

PAGCOR Chairman and CEO Alejandro H. Tengco said: “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\u2019ve long dreamed of a day when we could bring everyone together under one roof\u2014a place where we could foster a stronger sense of community, collaboration and shared purpose.”<\/p>\n\n\n\n

SMC chairman and CEO Ramon S. Ang<\/strong>, said: “Our goal is to maximise the potential of this property for the public\u2019s 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,” he added.<\/p>\n\n\n\n

See also:<\/strong>\u00a0PAGCOR delivers health services and assistance to Ilocos Norte residents<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PAGCOR’s new corporate office building will be built on the site.<\/p>\n","protected":false},"author":176,"featured_media":777021535,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippine Amusement and Gaming Corporation (PAGCOR) and San Miguel Corporation (SMC) have executed a 25-year lease agreement for PAGCOR's 15-hectare Nayong Pilipino property in Pasay City. SMC will finance and construct PAGCOR's new PHP2.45bn corporate headquarters on 40,000 square meters of the site at no cost to PAGCOR, while utilizing the remaining 13 hectares for airport infrastructure support.","focusai_entities":"Philippine Amusement and Gaming Corporation, PAGCOR, San Miguel Corporation, SMC, Alejandro H. Tengco, Ramon S. Ang","focusai_location":"Philippines, Pasay City","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.8), investor_analyst (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Lease Agreement Specifics?","query":"What are the detailed financial and operational terms of the 25-year lease agreement between PAGCOR and SMC, particularly regarding revenue sharing or future expansion clauses?"},{"label":"Operational Impact Analysis?","query":"How is PAGCOR projecting this consolidation into a single corporate headquarters will impact its operational efficiency, regulatory compliance capabilities, and overall GGR\/NGR generation capacity?"}],"footnotes":""},"categories":[157,16333],"tags":[405],"class_list":["post-777021534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777021534"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021534\/revisions"}],"predecessor-version":[{"id":777021548,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021534\/revisions\/777021548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777021535"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777021534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777021534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777021534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}