PNOC Development and Management Corporation
(updated August 1, 2016)
The PNOC Development and Management Corporation (PDMC) was incorporated in 1959 and was renewed in 2009 for another 50yrs. PDMC is 2% owned by private stockholders and is the only company in the PNOC Group that is empowered by its articles and by-laws to develop, manage and add value to the real estate properties which PNOC and the other subsidiaries hold. It is also empowered by its charter to engage in the business of developing vital energy infrastructure such as refineries, pipelines, pumping station and the like.
It has been engaged in the development and management of a 118-hectare property in Rosario, Cavite. Twenty-five hectares have been devoted to a Socialized Housing Program (the GMA AbotKayang Pabahay at Palupa project). Thirty-two hectares have been developed into a middle-to-high income subdivision adjacent to a public market on a 1.5 hectare land donated by PDMC. Within the 32-hectare property is a 5-hectare area which has already been sold to SM group –further enhancing the real estate values of PDMC properties. Forty-two hectares have already been sold and developed as an expansion site for the Cavite Export Processing Zone.
PDMC has also been the project manager of a Condominium Housing Project (EL PUEBLO MANILA) for PNOC, DOE and other government employees on a 4.7 hectare property of PNOC in Sta. Mesa, Manila. With a Pasig River frontage and adjacent to the Polytechnic University of the Phils, the property has been developed from its previous status as a nonperforming asset to an income-earning project.
Note: On September 8, 2014, a Memorandum from Executive Secretary Paquito N. Ochoa, Jr. was issued stating that the Governance Commission for GOCCs’ (GCG) recommendation to abolish PDMC has been approved. The GCG issued Memorandum Circular No. 2014-25 on the implementation of the abolition of PDMC. The transition and turnover plan for PDMC was submitted to the GCG in 2015 and the going concerns of PDMC were continued and transitioned into PNOC in accordance with the Plan.
- We manage and develop the real estate assets as well as undertake designated environmental projects of PNOC and the energy group of the government;
- PNOC, our mother company, that provides the resources and directions, guidance and business opportunities to us, we commit to generate and unlock value of its assets and projects;
- For our sister companies that complement our resources and capabilities, we extend, coordinate and support their undertakings;
- For our stockholders, we commit to generate and deliver maximum returns on their investments;
- For our business partners that augment our competencies by sharing their resources and capabilities with us, we will provide a fair share of the returns;
- For our community and environment where we have direct responsibility for, we provide environmentally-sound development projects; and,
- For our management and employees, our most valuable assets, we will ensure their professional growth and optimum benefits.
BOARD OF DIRECTORS:
Acting Chairman / President and CEO
Herminio M. Alcasid, Sr.
Maria Carmina Cruz
Ebert T. Bautista