The Department of Public Works and Highways (DPWH) is tapping the appraisal services of the Land Bank of the Philippines (Landbank) to help speed-up the completion of projects that will support the “Build, Build, Build” (BBB) Program of the National Government.
DPWH Secretary Mark Villar and LANDBANK President and CEO Cecilia Borromeo signed a Memorandum of Agreement (MOA) recently at the Landbank Plaza in Malate, Manila.
“Today’s MOA signing is specific to our mandate of supporting National Government projects for the development of the country as a whole. We hope that our assistance can help ease this process, as we vigorously work together with DPWH in facilitating the acquisition of ‘Right-Of-Way’ sites to be used in government infrastructure projects,” said President Borromeo.
Under the MOA, the bank will appraise lands and properties affected by DPWH projects to determine its market value, which is one of the requirements for the Department to acquire its Right-of-Way (ROW) as provided under Republic Act 10752 or “The Right of Way Act.”
The partnership agreement will cover 1,527 DPWH projects nationwide, including farm-to-market roads, bypass roads, and road widening, amounting to an estimated appraisal service fee of P495.78 million.
According to DPWH, it has tapped the services of LANDBANK because of the adequate ability, expertise, and experience in property valuation and appraisal of the Bank’s licensed appraisers nationwide.