PARAÑAQUE CITY – The Parañaque City government clinched the contract to build three towers of commercial mixed-used buildings within the Pagcor Entertainment City, the Manila Standard reported.
This, as the local government and Anchor Land Holdings, Inc. (ALHI) signed a public-private partnership for development of the P2.7-billion Special Investment District buildings.
Construction of these buildings is expected to commence in two years or by mid-2021, with ALHI financing and constructing the complex.
One of the buildings will serve as the local government’s satellite office while the other two will be leased for office and bed-spacing use by ALHI, which shall return possession of the property including all improvements to the city for a certain period of time.
The satellite office would include the extension offices of the city’s business permit and licensing office (BPLO) as well as the assessor’s office, where local and foreign investors can process their city permits, making it easier to submit their applications.
Parañaque City Mayor Edwin Olivarez said about 2,434 square meters of land will be allotted to the nine-story satellite office, which will have four floors with 4,884 square meters of space for the city government and five floors with with 6,785 square meters of space for lease.
“The Satellite City Hall is basically an office building and the project will be a new landmark in this part of the city,” he added.
The project will last for 50 years and can be renewed for another 25 years at ALHI’s option.
“The project will bring value to the city’s property. It will create jobs for city residents, who may be employed by the various businesses that will lease space at the commercial area,” Olivarez said.
Those seeking to work in buildings at the Entertainment City may also secure their work and health permits as well as police and National Bureau of Investigation clearances from the satellite city hall, he added.
Once the satellite office is completed, more volunteers will be assigned to oversee the traffic in the area, and deploy police to secure hundreds of local and foreign tourists who will visit the newly-constructed five-star hotel casinos.
Entertainment City is Asia’s Las Vegas-like gaming and entertainment complex which Pagcor proposed to offer to investors on 8-kilometer of land on the reclamation area of Manila Bay and Coastal Road in Brgy. Tambo.