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4 govt agencies moving to Fort

Four government agencies will soon relocate their offices at the Financial Center in Fort Bonifacio City to improve their services to the public.

The Finance Department said four government agencies signed an agreement Monday finalizing the guidelines on the construction of a financial center in the business district of Taguig City .

The four agency heads who signed agreement were Securities and Exchange Commission chairwoman Teresita Herbosa, Insurance Commissioner Emmnuel Dooc, Land Bank of the Philippines-Leasing Corp. president Manuel Lopez and Philippine Deposit Insurance Corp. president Cristina Orbeta.

The financial center under the agreement will be called Financial Regulator’s Center, a 5,000 square-meter property along Lawton Avenue in Taguig City.

Land Bank Leasing and the IC obtained the property from the Bases Conversion and Development Authority in September last year.

Heads of the SEC, IC, Land Bank Leasing and parent Land Bank of the Philippines and PDIC will serve as the steering committee of the project with the Finance secretary acting as as chairman to decide on matters related to the financial center.

Land Bank Leasing will handle the funding and construction of the center, according to the agreement.

The SEC, IC and PDIC will be responsible for the budget required in the acquisition of their respective office units in the financial center.

They will enter into a lease-to-own arrangement with Land Bank Leasing in the building and may make advanced payment to reduce costs subject to existing government rules and regulations.

The agreement will serve as the agencies’ legal obligation in the project.

The Philippine Stock Exchange will move its headquarters from Makati City to Fort Bonifacio, Taguig City by the end of 2016.

The Philippine Stock Exchange, meanwhile, said in May it also signed a deal with Fort Bonifacio Development Corp. to acquire office units in Bonifacio Global City for P805.37 million.

FBDC broke ground on the new PSE headquarters in Fort Bonifacio in 2012.

The new PSE offices, which will be housed in a P3.5-billion, grade AAA multi-tower complex, will rise in the planned One Bonifacio High Street district, a 3.2-hectare, premium mixed-use block west of the existing Bonifacio High Street commercial strip.

The office space was in exchange for the 2,000-square meter parcel of land originally donated to the PSE by FBDC as the site for future headquarters more than a decade ago.

Aside from the PSE, the new office building will be home to at least 100 active brokers.

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