MANILA -- President Benigno "Noynoy" Aquino III on Thursday toured the members of his Cabinet inside the newly-renovated Bahay Pangarap, which will be his official residence.

The President is in the process of moving in to the 350-square meter house from his family residence in Times Street, Quezon City.

There was no exact date yet regarding the formal transfer of the chief executive.

Presidential spokesperson Edwin Lacierda said the President toured them inside his home with four newly-constructed bedrooms from the original one bedroom only.

From the design of architect Manny Dimaculangan, the President's abode now has a guest bedroom and two separate rooms for close-in security detail and household help. It also has swimming pool and garden.

As of this posting, the President and his Cabinet are holding a special Cabinet meeting.

Lacierda said in his twitter account that they are having "menudo de solipena" for their "working" lunch.

He added that the agenda for the Cabinet meeting will be the proposed 2011 national budget.

Bahay Pangarap is situated on a 1,307 square meter lot inside the Presidential Security Group Park. It is only five-minute barge ride from Malacañang Palace and the Premiere Guest House where the President will hold office.

Lacierda earlier said that the official transfer of the President will not be open to media for security purposes. (Jill Beltran/Sunnex)