Makati City Mayor Nancy Binay revealed that the previous administration signed a “last-minute agreement” worth P8.96 billion with the Makati subway contractor, Philippine InfraDev Holdings Inc., just days before their term ended.
The City Council authorized the settlement agreement on June 20, but the payment obligation lacks a budget allocation for 2025.
Binay criticized the deal for being made without public consultation, budget certification, or transparency during the government transition.
She warned that the city’s financial stability and ongoing projects could be severely affected and has ordered a legal challenge to the settlement at the Singapore International Arbitration Center.
The subway project, initially launched in 2018, was stalled due to the pandemic and legal issues involving barangay jurisdiction, leading to its cancellation.
Source: PhilNews24 | July 7, 2025
