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San Miguel Infrastructure and the Philippine Amusement and Gaming Corp. have inked a 25-year lease contract for the 15-hectare Nayong Pilipino property in Pasay City, which includes the private firm developing a corporate office for the gaming operator.Under the lease agreement, San Miguel is also set to develop a 40,000-square-meter office building for PAGCOR which will rise on a two-hectare portion of the property. It is valued at P2.
San Miguel is set to lease the remaining 13 hectares of the property for its initiatives, which will mostly include infrastructure to complement airport requirements, as the group operates the Ninoy Aquino International Airport , the country’s main gateway.The lease agreement was signed last Thursday, December 12, during which San Miguel Corp. chairman and chief executive officer Ramon Ang turned over nearly P100-million worth of checks representing advance rentals and security deposits.
Pagcor Nayong Pilipino San Miguel Infrastructure
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