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PEZA will develop a 33-story commercial structure.

MANILA, Philippines — According to its director-general Charito Plaza, the Philippine Economic Zone Authority (PEZA) will erect a 33-story structure on its 5,000-square-meter site along Roxas Boulevard.

PEZA is in talks with three firms to create an office building that will be leased for commercial use, according to Plaza.

Alloy MTD, a unit of Malaysian firm MTD Capital Bhd., which was involved in the original development of New Clark City, Rhodium, a local construction firm, and a Chinese firm, she claimed.

“We’re working on the TOR (terms of reference) so that we may award the bid and begin building this year, but not before the conclusion of the Duterte administration,” the PEZA chief added.

PEZA’s new source of revenue could help it pay dividends to the Treasury Bureau.

PEZA has paid the national government a total of PHP10.79 billion in dividends since 2016, with PHP5.6 billion of that coming in the last five years.

The government does not provide funding for the investment promotion agency. PEZA generates money via permission and inspection fees, processing fees, sewerage/garbage, fines, transshipment, and utility fees, as well as other sources of revenue such as service concessions and rentals.

Meanwhile, Plaza stated that PEZA will complete the construction of its 13-story office building in 2024, when it will be fully operational.

PEZA is investing PHP1.5 billion in a 5,000-square-meter office building along Roxas Boulevard.

Plaza also mentioned that this is the Land Bank of the Philippines’ first office building.

PEZA’s initial headquarters were at this location before moving to an office within the Department of Energy compound in Taguig’s Bonifacio Global City. PEZA is currently leasing three floors at Pasay City’s DoubleDragon Center.

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