MANILA – The Philippine Economic Zone Authority (PEZA) will construct a 33-story building on its 5,000 square meter lot along Roxas Boulevard, its chief executive Charito Plaza said in an interview.
Plaza told reporters that PEZA is currently in talks with three groups to construct the office building which will be leased for commercial purposes.
She said these groups include Alloy MTD, a unit of Malaysian company MTD Capital Bhd., which is involved in the initial development of New Clark City; local construction company Rhodium; and a Chinese company.
“We are preparing the terms of reference (TOR) so that we can award the tender and start construction this year, but not before the end of the Duterte administration,” the PEZA chief said.
This new revenue stream for PEZA could contribute to its delivery of dividends to the Office of the Treasury.
From 2016 to 2021, PEZA has remitted a total of PHP 10.79 billion in dividends to the national government, of which PHP 5.6 billion has been paid out over the past five years.
The investment promotion agency does not receive any budget from the government. PEZA is self-sufficient through the fees and charges it collects from economic zones, such as permit and inspection fees, treatment fees, sewage/garbage, fines, transshipment and utility fees , as well as other sources of revenue, including service concessions and rentals.
Meanwhile, Plaza said PEZA will complete construction of its 13-story office building which will be fully utilized by the agency in 2024.
PEZA spends around PHP 1.5 billion on its own office building in its 5,000 sq m property along Roxas Blvd.
It is also the first office building financed by the Land Bank of the Philippines, Plaza added.
The property is PEZA’s initial headquarters before moving to an office inside the Ministry of Energy complex at Bonifacio Global City in Taguig. PEZA currently leases three floors at the DoubleDragon Center in Pasay City. (NAP)