DYNAMIC Builders is set to start work on the P1.7 billion building on a Capitol-owned property.
Venchito Magalona, chief of security of the Provincial Capitol, assured the public on Thursday, March 14, that there is enough security personnel to secure the offices as the Provincial Governments starts the transfer of some departments to give way to the construction of a new building at the Provincial Administration Center (PAC).
Dynamic Builders Inc. may start the demolition of the Capitol offices in order to commence the construction of the new mixed-use building on the Capitol property. The investment is worth P1.7 billion.
Magalona said that at present, Dynamic Builders has already assigned some security personnel at PAC.
Capitol has asked for an extension to vacate PAC until the Province finds areas where the affected Capitol offices could be temporarily transferred.
Capitol will also construct a new PAC Building worth P900 million to be located at the back of Dynamic Builders’ mixed-use building. The construction firm also won the bidding for the P900 million new PAC building where the affected offices will be permanently transferred once completed.
Magalona also said that so far, some of the buildings where some offices will transfer have their own detailed security guards so there may no longer be a need for Capitol to assign its own guards.
“But once needed, we have enough guards to deploy,” Magalona said.
Provincial Board Member Salvador Escalante, chairman of the Committee on Finance, said that Dynamic Builders will construct a mixed-use, nine-storey building on the 6,480-square-meter Capitol property. The first two floors will be for commercial purposes, the third floor will be for a call center while the fourth to ninth floors will be room accommodations for a hotel.
The company's unsolicited proposal is for a 50-year rental at P85 per square meter per month or P550,000 per month at a total of P6 million per year. The rent will be increased at five-percent increments every five years.
The contract also provided for a two-year down payment and another two-year deposit. The proceeds of the agreement will go to the General Fund and has become part of the 2019 Appropriations Act. (TDE)