NDC receives final payment for Skyway Stage 3 lot in Pandacan
The check handover ceremony led by NDC General Manager Saturnino Mejia (6th from left) and TRB Executive Director Alvin Carullo (7th from left)
MANILA, Philippines — The National Development Company (NDC) has received the second and final payment for the sale of its 1.3-hectare property in Pandacan, Manila to the Toll Regulatory Board (TRB).
A source familiar with the transaction said the purchase amount for the land – which TRB would use for the Metro Manila Skyway Stage 3 project – was around P420 million.
The collection was completed on April 30 via a check handover ceremony led by NDC General Manager Saturnino Mejia and TRB Executive Director Alvin Carullo.
“This completed transaction comes seven years after negotiations started in 2018,” 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.
READ: NDC sells 1.3-ha property to give way to Skyway Stage 3
Divided lot
According to the NDC, the Pandacan property is part of a 5-hectare parcel of land that it owns.
The construction of the Skyway divided the property into three irregular sections, prompting the execution of two separate deeds of sale.
According to the NDC, one deed covers the area affected by the main alignment of the Skyway 3, while the other is the portion affected by the interconnection structure.
Skyway Stage 3 is a major infrastructure project designed to alleviate traffic congestion in the National Capital Region by providing a direct link between the North Luzon Expressway and the South Luzon Expressway.
This elevated toll road spans approximately 18.68 kilometers, stretching from Buendia in Makati City to Balintawak in Quezon City.
The project aims to significantly reduce travel time between Buendia and Balintawak from over two hours to just 15 to 20 minutes, accommodating around 55,000 vehicles daily according to government estimates.
