The National Development Company (NDC) has received the second and final tranche of payment from the Toll Regulatory Board (TRB), completing the PhP420-million acquisition by TRB of a 1.3-hectare NDC property in Pandacan, Manila.
NDC announced the final collection on May 8, 2025, but the transaction was completed on April 30, 2025, led by NDC General Manager Saturnino H. Mejia and TRB Executive Director Alvin A. Carullo. NDC, however, did not divulge the final payment amount but sources said the total acquisition amount was PhP420 million.
“This completed transaction comes seven years after negotiations started in 2018,” said Mejia in a statement. “The lengthy process resulted in a sale that reflects the market value of commercial properties in the Pandacan area.”
The TRB-acquired property was part of NDC’s single 5-hectare parcel of land. Due to the construction of the Skyway, the parcel was segmented into three irregular fragments. The 1.3 hectares were acquired by the TRB for the Metro Manila Skyway Stage 3 Project.
“The conclusion of this transaction between NDC and TRB forms part of the strategic infrastructure project of the national government,” Mejia added.
The successful conclusion of this transaction highlights NDC’s ongoing commitment to unlocking the value of government assets and reinvesting in projects that drive national development and long-term growth.
As the investment arm of the national government, NDC is mandated to promote economic development through equity investments, project development, and strategic asset management. With a focus on industrial innovation, renewable energy development, and inclusive infrastructure, NDC plays a vital role in implementing the country’s long-term development agenda.
