Manila: The National Development Company (NDC) has received the final tranche of payment from the Toll Regulatory Board (TRB) for a 1.3-hectare segment of its Pandacan property. This finalizes the land acquisition for the Metro Manila Skyway Stage 3 (MMSS3) project, marking the end of negotiations that began in 2018.
According to Philippines News Agency, the final payment was completed on April 30, 2025. This transaction was formally led by NDC General Manager Saturnino Mejia and TRB Executive Director Alvin Carullo. Mejia stated that the sale reflects the market value of commercial properties in the Pandacan area.
The property involved is part of a five-hectare parcel owned by NDC in Pandacan, Manila. The acquired property by TRB facilitates the construction of MMSS3, a key infrastructure initiative aimed at easing traffic congestion in Metro Manila.
The land deal was executed through two separate Deeds of Absolute Sale. One deed covers the area affected by the Skyway's main alignment, while another addresses the portion impacted by its interconnection structure. The elevated expressway's construction divided the once-contiguous property into three irregularly shaped segments.
As the government's investment arm, NDC is tasked with promoting national economic growth through equity investments, project development, and strategic asset management. Mejia emphasized that the conclusion of this transaction forms part of the strategic infrastructure project of the national government.