00:00More than Php 4 billion was allocated for the relocation of the Senate under the 2025 National Budget
00:08where the funds are being used for the renovation of this building.
00:12In total, more than Php 20 billion has been allocated by the government since 2018.
00:20And Ma'am Gonzales got it right.
00:23From 2018 to this year, Php 23.5 billion was allocated by the government for the transfer of office of the Senate.
00:34Based on the study of GMA Integrated News Research, the level of funds for the Senate relocation is Php 1 billion annually.
00:41Under the 2025 General Appropriations Act, there is a Php 4.2 billion fund under the Senate relocation.
00:48Almost Php 210 million is for the final installment in the lot.
00:52Php 4 billion is for the Phase 3 of the construction of the new Senate building.
00:56The plan is to finish the construction of the house by 2027.
01:01In the last report of the Department of Public Works and Highways in the Senate,
01:04the estimated building cost reached Php 31.6 billion.
01:09There is no payment for land and furniture.
01:12This is equivalent to more than Php 240,000 per square meter.
01:17Based on the construction cost handbook Philippines 2024 by Arcadis Philippines Inc.,
01:23the cost per square meter can reach Php 183,000 for a high-rise office of high quality.
01:30But to be clear, these are just general industry guidelines and not specific for the construction of the new Senate building.
01:37For GMA Integrated News, Ma'am Gonzales got it right, 24 hours.
01:47.
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