By Dhel Nazario
The P2.7 billion three-tower commercial mixed-used buildings that will serve as the Paranaque City government’s satellite office at the Pagcor Entertainment City along Coastal Road was formally inaugurated Wednesday by city and private land developer officials.
The project was entered into by the city government and Anchor Land Holding Inc. (ALHI), which will finance and construct the complex at no cost to the city, recently signed a public-private partnership for the Special Investment District (SID) buildings.
Construction of the building is expected to start in the last quarter of this year.
About 2,434 square meters of land will be devoted 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 6,785 square meters of space for lease, according to Parañaque City Mayor Edwin Olivarez.
Olivarez said the two other buildings will be leased for office and bed-spacing use by ALHI, who shall return possession of the property including all improvements to the city after a certain period.
“The Satellite City Hall is basically an office building and the project will be a new landmark in this part of the city,” the mayor said.
Under the agreement, the PPP project will have a period of 50 years, renewable 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,” the mayor pointed out.
Olivarez said 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.
He said this would make it easier for businesses to apply for their respective business requirements instead of going to the main city hall in Sucat district.
Those who intend to work in establishments 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, Olivarez said.
With businesses booming in Entertainment City, he said there is a need for an SID building to make it convenient for investors and businessmen to transact and process documents that are usually done at the main city hall.
Olivrez said once the satellite city hall office is operational, they will designate additional volunteers to supervise the traffic in the area, and assign police to secure hundreds of local and foreign tourists who will visit the newly-constructed five-star hotel casinos.