Lot owners accept Makati subway offer

MANILA, Philippines — Makati Subway Inc., the proponent of the flagship Makati Subway project or MkTr, has started acquiring properties from Makati residents who will be affected by the construction of the underground train system.

City administrator lawyer Claro Certeza said the first batch of 55 lot owners has already accepted the purchase offer of the private consortium that will construct the subway.

Makati Subway has started buying and paying P1-million ‘early bird’ incentives to affected local residents.

Certeza, who also chairs the city’s PPP Selection Committee, said the initial 55 lots have a combined value of P1.18 billion and cover a total area of 7,683.83 square meters.

“The landowners who promptly accepted the offer will each get a P1-million incentive from Makati Subway Inc.,” Certeza said.

Of the 55 lot owners, five submitted all the required documents and were paid a total of P62.9 million by Makati Subway. Owners of the remaining 49 lots are processing their documents for the transfer, he said.

Makati Subway is on track despite the challenging business environment brought about by the COVID-19 pandemic.

“Our private sector partner has been communicating and negotiating with concerned property owners for the acquisition of lands needed for the project,” Certeza said.

He hopes other property owners will soon follow so the project’s initial phase can be completed and the private partner can proceed with construction.

In July last year, Mayor Abby Binay led the historic signing of the subway project’s joint venture agreement between Makati City and Philippine Infradev Holdings Inc., the private sector proponent.

“The subway project comes at an opportune time when we’re trying to rebuild our economy and to secure employment for thousands of Filipinos displaced by the pandemic,” Certeza said.

MkTr will link the central business district, city hall and other key areas in the city.

The $3.5 billion project is touted as the biggest PPP project for a local government unit and is a 10-kilometer railway system to be built in Makati.

The proposed subway will connect key points in Makati such as the current central business district along Ayala Avenue, the Makati City Hall, the Poblacion Heritage Site, the University of Makati, Ospital ng Makati and the other new business districts within the city.

It will have up to 10 air-conditioned, underground island stations.