The Market Monitor Minding the Nation's Business
EEI Corporation is set to design the biggest convention center in Southeast Asia after being awarded the P15.7 billion contract to construct the first phase of the Philippine International Exhibition Center (PIEC), which will be located in Pasay Harbor City — a reclaimed island in Manila Bay.
EEI received the Notice of Award from the Department of Public Works and Highways (DPWH) last July 4, but made disclosures at the Philippine Stock Exchange last Monday, July 7.
EEI president and CEO Henry Antonio, in a statement, said “It marks a pivotal milestone for all of us in EEI, and we are honored and excited to support the government in bringing this vision to life”.
Last March, Antonio led a management buyout in EEI acquiring a 20% stake from RYM Business Management, the holding firm of House Speaker Martin Romualdez’s family. The Yuchengco-owned construction firm said a management firm controlled and led by Antonio bought RYM’s shares.
The government aims to position the Philippines as the go-to country in Asia for Meetings, Incentives, Conferences, and Exhibitions (MICE). There will be 269,000 square meters of exhibition space in the PIEC — the largest in the Southeast Asian region.
According to EEI, the center will serve both international and local events.
The first phase of the project covers the design of the PIEC — from engineering requirements, architectural and structural works.
“This will be opportunity for us to showcase Filipino creativity and overall strength of the construction industry in the Philippines, although recognizing some materials that we will inevitably have to import, we are conscious to maximize Filipino content in the building of this iconic landmark,” Antonio said.
The PIEC has been called the government’s flagship MICE project, which is pegged to total P27 billion. The second phase of the project will focus on civil works from 2026 to 2027, as quoted by report from the Philippine Star.