November 10, 2022 | 8:29 pmTHE ZAMBOANGA City government is eyeing the release of another P800-million fund from the national coffers by December for the ongoing land acquisition for the planned new Zamboanga International Airport, the cityCity Legal Officer Haydee Gretchen G.
The P800 million was allocated under the 2020 national budget following an initial P200 million appropriated the previous year. Ms. Panganiban said the fresh fund will be used to pay for some of the properties that were already appraised by the Land Bank of the Philippines.Another 12 contracts were recently signed, according to the legal officer.
The 32 properties agreed for sale have a total price of P362.417 million, of which 50% had already been paid.State-owned LANDBANK is scheduled to appraise other lands starting this week. Once land acquisition is completed, the next phase of the project would be setting up a perimeter fence before the airport construction.The existing Zamboanga International Airport, located within the congested city center, is planned for conversion into a commercial complex.