The National Development Company (NDC) and the Toll Regulatory Board (TRB) signed a memorandum of agreement (MOA) and several deeds of absolute sale on the acquisition of an NDC property in Pandacan, Manila affected by the implementation of the Metro Manila Skyway Stage 3 Project.
Both parties signed the agreements on June 11, 2024 at the Philippine Innovation Hub in Makati City.
The MOA ensures a smooth and equitable process for the acquisition of properties impacted by the Skyway Stage 3 Project. Through transparent negotiations and mutual understanding, both parties said they reached a consensus that upholds the interests of all stakeholders involved.
“We are pleased to announce the successful signing of the memorandum of agreement between NDC and TRB. This agreement reflects our commitment to responsible urban development and community welfare,” said NDC general manager Antonilo Mauricio.
The Metro Manila Skyway Stage 3 Project is a crucial infrastructure initiative by the government to ease traffic congestion and enhance metro connectivity.
“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 said.
NDC, the government’s investment arm, is one of the Philippines’ leading state-owned enterprises, investing in diverse industries. It has the mandate to undertake projects on its own or in joint ventures with the private sector.
The NDC is an attached agency of the Department of Trade and Industry (DTI).