Under President Fidel V. Ramos, the Bahay Pangarap was restored and became the club house of the Malacañang Golf Club (the old Club House had become the residence of President Marcos’ mother, Mrs. Josefa Edralin Marcos). Restoration was supervised by Architect Francisco Mañosa at the initiative of First Lady Amelita Ramos and inaugurated as the New Bahay Pangarap on March 15, 1996 as an alternate venue for official functions in addition to recreational and social activities. In 2008, the historic Bahay Pangarap was essentially demolished by Architect Conrad Onglao and rebuilt in contemporary style (retaining the basic shape of the roof as a nod to the previous historic structure), replacing, as well, the Commonwealth-era swimming pool and pergolas with a modern swimming pool. It was inaugurated on 19 December 2008 by 22 President Gloria Macapagal-Arroyo at a Christmas reception for the Cabinet. Administrative Order Nº. 251, issued on December 2008, placed the administration of Bahay Pangarap under the Internal House Affairs Office of the Office of the President of the Philippines. Malacañang Park has always been a recreational park, and is not a military facility. The facilities and area of the PSG are distinct from the demarcation of Malacañang Park. President Benigno S. Aquino III thus becomes the first President of the Philippines to make Bahay Pangarap his official residence, although previous presidents have stayed there. Despite living at his private residence at the start of his term, he has since occupied the house as of August 2010.

Malacañang Palace[5] [6] (Filipino: Palasyo ng Malakanyang), officially Malacañan Palace or simply "the Palace", is the official residence, but not the actual residence, and principal workplace of the President of the Philippines. It is located along Pasig River, Governors-General Francis Burton Harrison and Dwight F. Davis built an executive building, the Kalayaan Hall, which was later transformed into a museum. Since 1986 when Cory Aquino became president, only one president, Gloria Macapagal-Arroyo, has actually lived in the palace proper, though all lived on the grounds or nearby.[7]Coordinates: 14°35'38"N 120°59'39"E [8] 1000 José P. Laurel Street, San Miguel, Manila[9]Malacañang Palace and Museum Site of the presidency of the Philippines. The Malacañang Museum is situated in historic Kalayaan Hall – the old Executive Building built in 1920 lat: 14.5935506821, long: 120.995094299 [10] New Malacañang Facebook page seeks pics from Palace visitors[11]