PNOC wants to redevelop 3-hectare BGC property

By Alena Mae S. Flores – April 4, 2025, 9:35 pm
from manilastandard.net

State-run Philippine National Oil Co. (PNOC) is seeking a real estate consultant to conduct a multi-sector study for the redevelopment of its nearly three-hectare property in Bonifacio Global City (BGC), Taguig.

“The Multi-Sector Market Study will serve as a critical tool for PNOC in determining the highest and best use of the property, assessing market demand across various sectors, and identifying viable development opportunities,” PNOC said in a statement.

The study will guide PNOC’s decision-making on redeveloping the PNOC Energy Center to maximize its potential, align with market trends and contribute to its long-term sustainable growth, the company said.

It is expected to provide strategic recommendations for mixed-use, commercial, residential, institutional and other potential developments.

The study will also ensure the redevelopment aligns with national and local development plans, sustainable practices and PNOC’s long-term goals.

“Ultimately, the study seeks to equip PNOC with a strategic framework for the optimal redevelopment of the PNOC Energy Center Property, ensuring its relevance and profitability in a dynamic real estate market,” PNOC said.

The PNOC Energy Center, a 29,291-square-meter prime real estate property in BGC, consists of office buildings and support structures.

Its appraised value was P501,000 per square meter as of December 2022.

The property includes Buildings 2, 3, 4a, 4b, 5, and 6 with Building 6 serving as PNOC’s corporate office. Other buildings are leased to various entities.

The property, classified as commercial, is bounded by the Department of Energy (DOE), 38th Street and STI College.

It is located near key landmarks such as Market! Market!, Uptown Mall, Bonifacio High Street and international schools and benefits from BGC’s status as a major financial hub.