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Manila Bulletin devider Business devider Trade & Industry devider NDC okays TRB's acquisition of Pandacan property

NDC okays TRB's acquisition of Pandacan property

Published Jun 15, 2024 09:52 pm

The National Development Company (NDC) announced that it has formally reached a consensus with the Toll Regulatory Board (TRB) for the acquisition of its 1.3 hectare-property in Pandacan, Manila, to be used as part of the Metro Manila Skyway Stage 3 project.

A memorandum of agreement (MOA) was officially signed on June 11 in Makati City by officials of the parties, headed by NDC General Manager Antonilo DC. Mauricio and TRB Executive Director Alvin Carullo.

A portion of the Skyway project lies on the Pandacan property, then-owned by NDC. Two deeds of sale were signed by the parties —- one, for the area affected by the Skyway's main alignment,  and the other, for the area affected by the interconnection structures.

Through the MOA and deeds of sale, the TRB will be able to continue construction of the project, which is the Board's joint venture with San Miguel Corporation (SMC).

The NDC emphasized that both parties welcome the results of their negotiations and believe the MOA “upholds the interests of all stakeholders involved.”

"This agreement reflects our commitment to responsible urban development and community welfare. We extend our gratitude to TRB for their cooperation throughout this process,” said Mauricio.

Carullo added that, “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."

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