The National Development Company (NDC) said Thursday it received the second and final tranche of payment from the Toll Regulatory Board (TRB) for a 1.3-hectare portion of its five-hectare property in Pandacan, Manila, amounting to P420 million.
The completed transaction comes seven years after negotiations started in 2018. The lengthy process resulted in a sale that reflects the market value of commercial properties in the Pandacan area, NDC general manager Saturnino Mejia said in a statement.
The final payment was collected on April 30, 2025, capping a negotiation process. The first tranche of payment was released in June 2024.
The acquisition supports the ongoing development of the Metro Manila Skyway Stage 3 project.
The affected portion forms part of a five-hectare parcel owned by the NDC, which was segmented into three irregular fragments due to the construction of the elevated expressway.
The 1.3-hectare section was acquired to accommodate the Skyway’s right-of-way.
“The conclusion of this transaction between NDC and TRB forms part of the strategic infrastructure project of the national government,” Mejia said.