Duterte backs review of UP-Ayala Land Technohub deal, Panelo says

President Rodrigo Duterte has backed a government review of the lease deal between state-run University of the Philippines and Ayala Land Inc. (ALI) for the Technohub property in Quezon City, Malacañang said on Thursday.

Duterte’s spokesperson Salvador Panelo said the President agreed with his recommendation for a review of the contract amid claims the university was receiving less than P20 per square meter a month for 25 years.

“Sabi niya, ‘Eh kailangan talagang pag-aralan ‘yan,’” Panelo told reporters.

Panelo said the government would ask for a copy of the lease deal.

“Ire-review mo lang naman eh. And you just make an opinion about it,” he said.

ALI earlier said it welcomed an audit of its lease agreement even as it claimed that the partnership had been “fruitful and beneficial for UP, ALI, and the community.”

ALI said both parties agreed that UP would receive a total amount of P10.23 billion under the contract—P4.23 billion in lease payments equivalent to P171 per square meter, and P6 billion in investments for 16 commercial buildings.

The company also said that only 20 hectares out of the 37-hectare property can be developed, given that four hectares remain with UP and 13 hectares are allocated for open space. — Virgil Lopez/RSJ, GMA News