Philippine Gaming and Amusement Corporation completes lease agreement

A 25-year lease for a property in Manila's Pasay City, a coastal neighbourhood, has been agreed to by the Philippine Amusement and Gaming Corporation and San Miguel Infrastructure. The office building will be more than 40,000 square meters in size and will cost $420 million, of which $300million will go towards construction and $120milliom will go towards furnishing. Additionally, 13 hectares of the 15-hectare area will be given to programs under the terms of the lease.