“SMC and PAGCOR are setting examples of how to help achieve a better and prosperous Philippines”
For younger generations, perhaps Nayong Pilipino does not sound familiar.
But for the older generation, who hasn’t heard of Nayong Pilipino?
Nayong Pilipino was the one place to go to by visiting Filipinos and foreigners who wanted a glimpse of the country’s popular tourist destinations especially during the years when social media was not available.
With a theme park of Filipino culture, it featured different geographical regions in the archipelago like the Ilocos, the Cordillera, Bicol, Visayas, Mindanao, and even the Tagalog. Also represented in Nayong Pilipino were miniature tourist attractions like the Mayon Volcano, Banaue Rice Terraces, Vigan’s historic houses, Chocolate Hills of Bohol, and Magellan’s Cross in Cebu, an aviary, playground, a picnic area, and lagoon.
It started operations in the 1970s but would close its doors to tourists in the 2000s. Located near the Ninoy Aquino International Airport, it occupies 22.3 hectares of a 45.9 hectare-property where the Philippine Village Hotel was.
It was designed by Ildefonso Paez Santos, Jr., a National Artist in Architecture known as the “Father of Philippine Landscape Architecture.”
Recently, San Miguel Corporation and the Philippine Amusement and Gaming Corporation (PAGCOR) signed a lease agreement on 15 hectares of the Nayong Pilipino property in Pasay City – for 25 years.
Signatories were SMC Chairman and CEO Ramon S. Ang and PAGCOR Chairman and CEO Alejandro H. Tengco.
A new building will be constructed by SMC to serve as PAGCOR’s corporate headquarters on a two-hectare area of the property.
According to Tengco, PAGCOR has been operating from rented locations for many years.
The building will be fully financed and built by SMC at no cost to PAGCOR – worth P2.45 billion, and will span 40,000 square meters with an additional 15,000 square meters for fit-out space.
Unused portions of the new office building will be rented out for additional revenues.
Under the agreement, 13 hectares would be allocated for use by SMC’s development and rehabilitation efforts on the Ninoy Aquino International Airport.
Checks worth almost P100 million were turned over to PAGCOR by SMC during the signing of agreement as advance rentals and security deposits.
The rentals will boost PAGCOR’s revenues which from January to September 2024 increased by 42 percent compared to the same period last year with its net income nearly double.
PAGCOR earlier reported the notable performance was driven by the Electronics Games sector and the country’s licensed casinos and integrated resorts.
“Our third quarter performance is a strong indication that in spite of the President’s decision to ban offshore gaming operations in the country, we are still on track to meet our P100 billion revenue target by yearend,” Tengco said.
Higher income for PAGCOR translates into more funds for nation-building. The GOCC earmarks earnings to fund the Universal Healthcare Law, contributes to the national treasury, provides incentives to athletes and coaches through the Philippine Sports Commission, remits corporate income taxes to the Bureau of Internal Revenue, funds socio-civic projects undertaken by the Office of the President, and contributes to the LGUs that host branches of the Casino Filipino and the Renewable Energy Trust Fund, among others.
Allocating part of the Nayong Pilipino property for SMC’s use in the ongoing rehabilitation of the country’s premier airport is laudable. Infrastructure projects on the area will complement airport requirements.
“Our goal is to maximize the potential of this property for the public’s benefit, ensuring the success of our airport development,” RSA said.
SMC’s New NAIA Infra Corp. which took over the operations and management of NAIA envisions a world-class international gateway.
This is not the first time a portion of Nayong Pilipino will be utilized for the country’s air transport infra project.
On June 26, 2002 President Gloria Macapagal Arroyo issued EO 111 that authorized the transfer of an area in the property to the Manila International Airport Authority for the construction of an additional parallel taxiway and surface road connection between NAIA terminals 2 & 3.
EO 58 dated Sept. 29, 2011 issued by President Benigno S. Aquino III mandated the transfer of the Nayong Pilipino Pasay property to the MIAA “for the expansion of Terminal 2 to the north and the development of the New International Cargo Terminal Facility to support the operation of Terminal 3 to accommodate growth in the passenger and aircraft movement at the Ninoy Aquino International Airport.”
SMC and PAGCOR are setting examples of how to help achieve a better and prosperous Philippines.
( MTV, book author/publisher, is president and chief executive officer of Media Touchstone Ventures, Inc. and the president/executive director of the Million Trees Foundation Inc., a non-government outfit advocating tree-planting and environmental protection.)
