INQUIRER FILE PHOTO
The state-owned National Development Company (NDC) said it has completed the sale of its 1.3-hectare (ha) real estate property in Manila to the Toll Regulatory Board (TRB), paving the way for it to be used as part of the Metro Manila Skyway Stage 3 Project.
The investment arm of the Department of Trade and Industry said it signed an agreement with the TRB last June 11 at the Philippine Innovation Hub in Makati City involving the property in Pandacan.
“This agreement reflects our commitment to responsible urban development and community welfare. We extend our gratitude to TRB for their cooperation throughout this process,” NDC General Manager Antonilo Mauricio said in a statement.
The NDC said the memorandum of agreement (MOA) signified a milestone in the collaboration between the two government agencies, ensuring a smooth and equitable process for the acquisition of properties for the massive infrastructure project.
It added both parties have reached a consensus through transparent negotiations and mutual understanding.
“The signing of the MOA underscores our shared commitment to delivering infrastructure projects that benefit the public while respecting property rights and promoting sustainable development,” TRB Executive Director Alvin Carullo, for his part, said in the statement.
The NDC property sold is a single 5-ha parcel of land. The parties did not disclose the purchase amount.
The Skyway plan split the property into three irregular fragments, necessitating the need for two deeds of sale.
One deed of sale is for the area affected by the main alignment of the Metro Manila Skyway Stage 3 Project, while the other one is for the area affected by the interconnection structure, according to the NDC. INQ