NDC receives final payment for property used in Skyway – BusinessWorld Online
THE National Development Co. (NDC) said on Thursday that it has received the final payment from the Toll Regulatory Board (TRB) for a 1.3-hectare property in Pandacan, Manila needed to construct the Skyway.
“This completed transaction comes seven years after negotiations started in 2018,” NDC General Manager Saturnino H. Mejia said in a statement on Thursday.
“The lengthy process resulted in a sale that reflects the market value of commercial properties in the Pandacan area,” he added.
The Pandacan property, which is part of a 5-hectare site owned by the NDC, was acquired by the TRB for the Metro Manila Skyway Stage 3 Project.
“Due to the construction of the Skyway, the parcel was segmented into three irregular fragments,” the NDC said.
As such, two deeds of sale were executed because one area was affected by the main alignment of the Skyway and the other area was affected by the interconnection structure.
The payment, which was made last week, signifies the NDC’s “commitment to unlocking the value of government assets and reinvesting in projects that drive national development and long-term growth.”
“The conclusion of this transaction between NDC and TRB forms part of the strategic infrastructure project of the National Government,” Mr. Mejia said. — Justine Irish D. Tabile
