Connect with us

Hi, what are you looking for?

Editor's Pick

Transport dep’t signs usufruct agreement for 5 DND properties for Metro Manila Subway project

THE Transportation department and the Department of National Defense (DND) on Friday inked a usufruct agreement covering five properties of the latter, which will be partly used for the Metro Manila Subway project.

Under the agreement, the DND properties that would be expropriated are the Veterans Memorial Medical Center and Golf Course, the AFP Medical Center (formerly known as the V. Luna Hospital), Camp Aguinaldo, Fort Bonifacio, and Villamor Air Base.

These real estate assets will become sites of five of the planned 17 subway stations as well as used for interstation tunneling works and temporary works during construction.

Transport Undersecretary for Railways Timothy John R. Batan, in his speech at the event, said the partnership between the two departments “will contribute to the fast and sure delivery of one of the boldest and most ambitious projects in the Duterte Administration’s Build Build Build Program.”

Defense Secretary Delfin N. Lorenzana and Transport Secretary Arthur Tugade led the signing.


Mr. Batan said the Transport department would pay the DND a recurring annual usufruct fee of 10% of latest zonal value and 5% of gross non-farebox revenues for the subway stations at its properties.

The project, the first subway in the country, will span 34 kilometers from Valenzuela City to the NAIA airport Termina 2.

The flagship project is funded through official development assistance from Japan.

Partial operations is targeted by end-2021 and full project completion is expected by 2025. — Angelica Y. Yang


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

Nikola, an electric truck startup, saw its stock price fly high as it went public and announced a deal with General Motors. A damning...

Top News

SEC probing Nikola Motors over short-seller claims of fraud – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-14T23:20:04Z Massimo Pinca/Reuters The Securities and...

Top News

Trump paid over $70,000 on hair when he was on ‘The Apprentice’: NYT – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-27T23:34:00Z Fred...


Stock Markets8 minutes ago (Jul 31, 2020 07:50PM ET) (C) Reuters. FILE PHOTO: James Murdoch, the son of media mogul Rupert Murdoch, and his...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Secrets Of Richdads. All Rights Reserved.