State-run Land Bank of the Philippines’ (LANDBANK) quick and efficient market value assessment of properties has been contributing to speed up the completion of various infrastructure projects under the National Government’s flagship “Build Build Build” program.
As of 31 October 2021, LANDBANK has completed the right-of-way appraisals of 19,214 properties nationwide as part of 142 infrastructure projects. Of which, 127 projects are being implemented by the Department of Public Works and Highways (DPWH) covering 7,075 lots, with the 15 remaining projects implemented by the Department of Transportation (DOTr) consisting of 2,565 lots and 9,574 structures or improvements.
“LANDBANK fully supports the National Government’s ‘Build Build Build’ program by fast-tracking right-of-way acquisitions. We will continue to contribute to the country’s infrastructure agenda to drive our ongoing economic recovery, geared towards attracting foreign investments and creating more jobs,” said LANDBANK President and CEO Cecilia C. Borromeo.
DPWH-implemented projects with properties appraised by LANDBANK include the NLEX-SLEX Connector Road in the City of Manila; the C5 Southlink Expressway in Parañaque City; the Pasig-Marikina River Channel Improvement Project Phase V in Quezon City, Marikina City and San Mateo, Rizal; the Meycauayan-Camalig-Bahay Pari Road Widening in Meycauayan, Bulacan; the Tagaytay Bypass Road in Cavite; and the Alicia-Malangas Road in Zamboanga Sibugay.
LANDBANK also facilitated the right-of-way appraisals for DOTr’s North-South Commuter Railway Extension (NSCR-Ex) Project, which include five clusters in Pampanga and Bulacan, one cluster in the City of Manila, and five clusters in Laguna; as well as the Metro Manila Subway Project in Quezon City and Valenzuela City, among others.
The Bank is currently conducting appraisals for 68 DPWH projects covering 2,513 lots, as well as four DOTr projects with 999 lots and 2,989 structures or improvements.
LANDBANK’s technical assistance in conducting property appraisals for the National Government’s infrastructure projects is part of the Memoranda of Agreement signed with the DPWH on 14 October 2019 and with the DOTr on 28 October 2020, to expedite the acquisition of right-of-way claims.
LANDBANK is one with the nation’s infrastructure development agenda towards advancing inclusive and sustainable economic recovery.