Appraiser chosen to peg NAIA-3’s value

The Pasay City Regional Trial Court (RTC) appointed one firm it found to be highly qualified of conducting an appraisal of the long-mothballed Ninoy Aquino International Airport (NAIA)-Terminal 3.

The appraisal is necessary for the final assessment of the just compensation to be paid to the Philippine International Air Terminals Company Inc. (Piatco) by the government as part of the expropriation of Terminal 3.

In a three-page order, Judge Jesus Mupas of the Pasay City RTC found DG Jones and Partners competent of undertaking the requisite appraisal of the Terminal-3 facilities and made official the firm’s appointment as appraiser.

Another appraisal firm, Sallmans Consortium, obtained an equivalent rating as DG Jones based on an “evaluation of prequalification of consultants.” However, the court favored the latter: “(DG Jones) submitted a fee proposal lower than that of Sallmans Consortium’s indicated fee.”

The court has directed the NAIA-3 Commission headed by Fiorello Estuar to decide the compensation DG Jones deserves for the services it will render.

Earlier, the commission subjected at least five appraisal firms to evaluation – including DG Jones and Sallmans Consortium. These entities earlier submitted to the court and the Office of the NAIA-3 Commission their interest to carry out the task of appraiser for Terminal-3.

“The selection of appraisers is a critical step in finally resolving the issue of just compensation. Both Piatco and the government were asked to submit a list of their suggested appraisers,” Estuar said.

In September 2006, the Pasay RTC released a “writ of possession” after the government paid of P3 billion to Piatco. This effectively set the stage for full government control of Terminal-3.

However, the amount was only the initial proferred value and full compensation must still be made.

The government took over Terminal-3 in late December 2004, shortly after the Supreme Court nullified its build-operate-transfer (BOT) contract with Piatco.