The Mysterious 12-Hectare Lot in Pasig: Why Has SM Left It Untouched for Years?

Wazzup Pilipinas!?

Nestled between the bustling Tiendesitas shopping complex and Rockwell's The Grove along C-5 Road in Pasig City lies a 12-hectare parcel of land, conspicuously untouched amidst rapid urban development. This verdant expanse, often referred to as the PIMECO lot, has a storied past that intertwines with the nation's political and economic history.

The Genesis of PIMECO

Established in 1975, the Philippine Integrated Meat Corporation (PIMECO) was the country's pioneering integrated and fully automated meat processing facility. Operating under a lease-purchase agreement with the government-owned Meat Packing Corporation of the Philippines (MPCP), a subsidiary of the Government Service Insurance System (GSIS), PIMECO was poised for industrial success. The agreement stipulated an annual rental fee, with provisions for eventual ownership transfer upon fulfillment of financial obligations.

Political Upheaval and Legal Entanglements

The 1986 EDSA People Power Revolution ushered in significant political changes, leading to the establishment of the Presidential Commission on Good Government (PCGG). Tasked with recovering ill-gotten wealth from the Marcos era, the PCGG sequestered PIMECO, citing its associations with prominent figures of the previous regime. This move initiated a protracted legal battle over the property's rightful ownership.

In 2009, a compromise seemed imminent when the PCGG, under then-chairman Camilo Sabio, approved the sale of the PIMECO lot to Consolidated Prime Development Corporation (CPDC), an affiliate of the SM Group, for approximately P1 billion. The Sandiganbayan sanctioned this agreement in March 2010. However, the subsequent administration raised concerns about the transaction's legitimacy, labeling it a "midnight deal" and arguing that the property's true value was significantly higher, leading to further legal disputes. 

Resolution and Current Status

After years of litigation, a settlement was reached in 2019. The Supreme Court approved a compromise agreement wherein PIMECO agreed to provide the PCGG with an additional P100 million, facilitating the property's transfer to the SM Group. Despite this resolution, as of January 2025, the lot remains undeveloped. Surrounded by major developments like Megaworld's Arcovia, Robinsons Land's Bridgetowne, and Ayala Land and Eton Properties' Parklinks, the PIMECO lot stands as a rare green enclave in a rapidly urbanizing landscape. 

The Future of the PIMECO Lot

The SM Group has yet to announce definitive plans for the property. Given the area's swift development, speculation abounds regarding potential projects that could arise on this prime piece of real estate. For now, the PIMECO lot serves as a living testament to Pasig City's rich history, awaiting its next chapter in the ever-evolving narrative of urban progress.

About "WazzupPilipinas.com"

WazzupPilipinas.com is the fastest growing and most awarded blog and social media community that has transcended beyond online media. It has successfully collaborated with all forms of media namely print, radio and television making it the most diverse multimedia organization. The numerous collaborations with hundreds of brands and organizations as online media partner and brand ambassador makes WazzupPilipinas.com a truly successful advocate of everything about the Philippines, and even more since its support extends further to even international organizations including startups and SMEs that have made our country their second home.