MVP, Revillame team up for P4 billion world-class studio

MANILA, Philippines — The MVP Group of Companies, through MediaQuest Holdings Inc., is teaming up with TV host Willie Revillame and Golden Pacific Holdings Inc. to put up a P4-billion multi-purpose building project beside the TV5 Media Center in Mandaluyong.

An agreement for the construction of the project featuring state-of-the-art studios, modern office spaces, as well as volleyball and basketball courts was signed yesterday.

“This is an exciting new chapter for MediaQuest and our partners. This new building is a significant investment that will help MediaQuest bring joy to Filipinos for decades to come,” MediaQuest Holdings Manuel V. Pangilinan said.

“This is really a special building and studio dedicated to Willie’s show, which is six days a week. But when he’s not using it, it can be used for other shows on TV5,” Pangilinan said.

Revillame, who is looking to secure a seat in the Senate in the upcoming elections, hosts a daily variety game show called Wil To Win which airs on TV5.

“This is a joint venture between of course, our boss MVP and well, myself and I have a partner also, JP Padiernos (Golden Pacific Holdings president). So we’re part of the team building this building,” Revillame said.

Revillame said that the cost for the entire development is about P4 billion.

MediaQuest president and CEO Jane Basas said that the development would be divided into two phases, with the aim of completing the entire project in two and a half years.

Turnover of the first phase, which will see the development of W Studios, is targeted before the end of the year.

“Studio W is obviously going to be a new home of the Wil To Win show. So we’re going to uproot them from Novaliches when this is done and bring the show here. And that’s the phase one. That’s our priority,” Basas said.

“There’s going to be a phase two where we’re building a 10-story building which will now house studio EAT, the new home of Eat Bulaga and Studio Q, which is the new home of the new other shows that MediaQuest will be doing between now and the future,” she said.

The 10-story building will be called the MVP Quest Building.

Basas said that the group is looking to sell its more than one hectare property in Novaliches to raise funds for the new project in Mandaluyong.

“So part of the funds that we will use to build will be coming from the proceeds of the sale of Novaliches,” she said.