• Philippine Resources

Peza secures P800-million funding to build new headquarters in Pasay


The Philippine Economic Zone Authority (Peza) is transferring its headquarters back to Pasay City after securing funding from the Land Bank of the Philippines (LandBank) for the construction of a 13-story building.


Peza Director General Charito B. Plaza last week said the agency obtained P800 million from LandBank for the construction of a 13-story building in the Bay Area. She bared the new office will be used by the Peza as its new headquarters, and that the property will be completed in two to three years time.


In the meantime, Peza will leave its office at the Department of Energy-Philippine National Oil Co.  (DOE-PNOC) Complex in Taguig City, and will locate in the Double Dragon Plaza in Pasay City, by March.


Plaza explained the Peza has to relocate its operations because its space in the DOE-PNOC Complex is no longer safe for work. She disclosed the structure endured cracks from the 6.1-magnitude earthquake that shook Luzon in April of last year.


“We will soon be signing with LandBank for the construction of the new Peza building in our original location along Roxas Boulevard [in Pasay City],” Plaza told reporters.


“In mid-March, Peza’s head office will transfer to Double Dragon. While we are located in Double Dragon—that is along Edsa and Macapagal Avenues, which is near our Peza building—simultaneously the Peza building will be constructed,” she added.


Further, the Peza is looking for a joint-venture partner to build a 33- story building to be situated at the back of its headquarters.


The back building, Plaza added, will be used by the investment promotion agency to generate revenue. She said it can be utilized for many purposes, even put it up for lease as office spaces of information technology and business-process management firms.


The construction of the back building is projected to cost between P2 billion and P3 billion, and Peza officials are looking for a constructor who can make it green and sustainable.


“There are now proposals [for the construction of the back building] because we want an iconic design and a green building. However, what we will prioritize is the building of our Peza office, which will be funded by LandBank,” the Peza chief explained.


Source: https://businessmirror.com.ph/2020/01/21/peza-secures-p800-million-funding-to-build-new-headquarters-in-pasay/

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