EconomyEditor's PickZamboanga City buys 20 of 44 lots for new airport  

September 21, 2022
ZAMBOANGA CIO

ZAMBOANGA CIO

ZAMBOANGA City Mayor John M. Dalipe has signed the deed of sale for 20 of 44 lots that will be used as site for the new Zamboanga International airport.  

In a statement on Wednesday, the city government said the contracts were signed Friday following the recent installation of a marker for the airport project located about 17 kilometers east of the city center. 

State-owned LANDBANK of the Philippines has appraised the 44 properties needed for the airport, of which 10 are pending negotiations for purchase.   

An ordinance issued by the city council has designated the entire 175 hectares as a Utility, Transportation, and Services Zone for the airport, which means any structure built within the area starting Sept. 1 will no longer be compensated by the government.  

The city said the planned international airport will cost about P13.9 billion.  

Once completed, the new airport is expected to accommodate eight million passengers a year.   

An initial funding of P200 million has been allocated for the land acquisition, with P180 million already downloaded to the local government.    

The existing Zamboanga International Airport, located in the congested city center area, is planned for conversion into a commercial complex. — MSJ 

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: SmartPeopleMail.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartPeopleMail. All Rights Reserved.

IT'S YOUR OPPORTUNITY OF THE YEAR!
Subscribe for FREE today and get your daily shot of smart news about the Economy and Investing.
We are dedicated to keeping any data we collect from you — safe and secure. Here you can read our privacy policy.