THE Toll Regulatory Board (TRB) said it acquired a 1.3-hectare Pandacan property from the National Development Co. (NDC), on which it plans to build part of Metro Manila Skyway Stage 3 (MMSS3).
In a statement sent over the weekend, the NDC said that it signed with TRB a memorandum of agreement (MoA) and two deeds of absolute sale last week for the acquisition of the property.
The agreement aims to ensure a “smooth and equitable process” for the acquisition and marks the reaching of a consensus that upholds the interests of all stakeholders.
“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 Antonilo DC. Mauricio, general manager of NDC.
“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 A. Carullo said.
In total, NDC’s property in Pandacan, Manila, is a single five-hectare parcel that was split into three irregular fragments due to Skyway construction, including the 1.3 hectares acquired by the TRB.
“There were two deeds of sale because one is for the area affected by the main alignment of the MMSS3 Project and the other one is for the area affected by the interconnection structure,” the NDC said.
NDC said that the property is strategic for MMSS3, as a Skyway component sits on the property while there may be plans to build another connector stage.
Asked about the value of the acquisition, the NDC said: “Since it’s a transaction between two government entities, the property valuation can’t be disclosed.”
“We wanted to release this because both parties are now happy with finally concluding this lengthy process because it clears the property up for use in road construction and development for TRB’s joint venture with San Miguel Corp.,” it added.
MMSS3 is an 18-kilometer elevated expressway from Buendia in Makati to the North Luzon Expressway in Balintawak, Quezon City. — Justine Irish D. Tabile
