THE National Development Co. (NDC) and the Toll Regulatory Board (TRB) have executed an agreement for the acquisition of an NDC property in Pandacan, Manila that is affected by the Metro Manila Skyway Stage 3 (MMSS3) Project.
NDC General Manager Antonilo Mauricio and TRB Executive Director Alvin Carullo signed the memorandum of agreement (MoA) and deeds of absolute sale for the NDC property on June 11, 2024 at the Philippine Innovation Hub in Makati City.
"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," said Mauricio.
The NDC property to be acquired by the TRB totals 5 hectares and comprises three irregularly sized lands split by the Skyway structures.
"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 was for the area affected by the interconnection structure," the NDC said.
The agreement also establishes a fair and efficient procedure for acquiring properties affected by the Skyway Stage 3 Project. By conducting transparent negotiations and fostering mutual understanding, the NDC and TRB successfully agreed on terms that protect the interests of all stakeholders, according to the NDC.
Mauricio added that the "agreement reflects our commitment to responsible urban development and community welfare. We extend our gratitude to TRB for their cooperation throughout this process."
The Metro Manila Skyway Stage 3 is an infrastructure project aimed at alleviating traffic congestion and improving connectivity across the metropolitan area. Spanning approximately 18.83 kilometers, this elevated expressway stretches from Buendia in Makati City to Balintawak in Quezon City, linking seamlessly with the North Luzon Expressway.
The project also aims to connect the South Luzon Expressway to reduce travel time from Buendia to Balintawak from 2 hours to just 15 to 20 minutes.
The latest project cost stands at P54.14 billion, according to the Public Works department.