Marilyn Cahatol

Article (news)

Job Manahan

Andrea Taguines

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/175197248559220181212_binay-makati-subway-gc_000_9297.jpg" style="width:960px" class="fr-fic fr-dib" alt="Guests check the scale model of Makati City with the proposed route of the Makati Subway Project unveiled at the Makati City Hall. The 10km railway from EDSA-Ayala to the University of Makati, which traverses several commercial centers and important locations, is scheduled to be completed in 2025. George Calvelo, ABS-CBN News"/><span class="fr-inner">Guests check the scale model of Makati City with the proposed route of the Makati Subway Project unveiled at the Makati City Hall. The 10km railway from EDSA-Ayala to the University of Makati, which traverses several commercial centers and important locations, is scheduled to be completed in 2025. George Calvelo, ABS-CBN News</span></span></span></div><p>MANILA — Members of the Binay family continued to spar over the stalled Makati Subway Project, with former Makati City Mayor Abby Binay-Campos again defending the arbitration deal with the project&#x27;s private builder while new Mayor Nancy Binay-Angeles seeks to withdraw from the settlement.  </p><p>Binay-Campos said the P8.96 billion settlement deal would raise the city&#x27;s assets as the local government would “take full control” of the project.</p><p>In a statement, Binay-Campos said that once the arbitration proceedings come to an end, the city would acquire the Makati City Subway Inc. (MCSI) “with a net value of $1.6 billion free of liabilities and including land assets.”</p><p>“In exchange, Makati will pay its PPP (Public-Private Partnership) partner $160 million, approximating the actual investment made on the Subway Project as determined by independent auditing firm Pricewaterhouse Coopers (PwC),” the statement read.</p><p>The former Makati mayor said she “expects the conclusion of the arbitration proceedings” with the Singapore International Arbitration Centre (SIAC).</p><p>“Other terms will be contained in the award to be issued by the SIAC Tribunal and declared before the proper regulatory bodies upon its receipt,” it added. </p><p>Binay-Campos issued the statement after her sister, new Makati Mayor Nancy Binay-Angeles criticized the deal with Philippine Infradev Holdings Inc would compromise the city&#x27;s finances and impact current projects.</p><p>Binay-Campos said the city has total assets of P243.444 billion, based on data from the Commission on Audit’s (COA) 2023 Annual Financial Report on Local Governments.</p><div><a href="https://www.abs-cbn.com/news/business/2025/7/7/ex-makati-mayor-abby-binay-denies-alleged-midnight-deal-with-subway-contractor-1559">Ex-Makati mayor Abby Binay denies alleged midnight deal with subway contractor</a></div><p>Aside from this, she said there would be “savings” following the transfer of 10 Embo barangays to Taguig—citing that the city government earmarks around P7.9 billion for the villages. Current projects, the former local chief executive said, would not be affected with the conclusion of the arbitration proceedings.</p><p>“With Makati expected to exercise full control, the city is now free to pursue the Subway Project through government-led procurement or by forming new public-private partnerships,” the statement read.</p><p>It was always up to the new city administration to move forward with arbitration but described this as “risky and costly.” This, after the Philippine InfraDev Holdings, Inc. (InfraDev) filed an arbitration case at SIAC last April asking $1.7 billion in claims.</p><div><a href="https://www.abs-cbn.com/news/business/2025/5/2/makati-subway-project-no-longer-feasible-proponent-1232">Makati subway project no longer feasible: proponent</a></div><p>“They will run the risk of losing and be liable for $1.7 billion,” said Binay-Campos.</p><p>On Monday Binay-Campos criticized allegations that the settlement was a “midnight agreement.”</p><p>Binay-Angeles over the weekend said the previous city administration approved the deal merely seven days before the term of all elected officials ended, and without any public consultation, budget certification, or proper transition transparency.</p><div><strong>NEW MAYOR REJECTS SETTLEMENT<br/></strong></div><p>According to Binay-Angeles, she has already instructed the city&#x27;s law department to prepare the proper documentation to be filed in due course with the SIAC to formalize the official position of the new Makati City government.</p><p>Binay-Angeles said on Tuesday that it will seek to withdraw its consent to the settlement deal entered into by the previous administration.</p><p>According to the city’s legal officer Atty. Ava Ramel, there was a warranty clause in the settlement deal stating that the previous Makati leadership has made the appropriate budgetary allocations for the settlement amount. But when they checked with the city’s budget department, there was none.</p><p>“We only have an P8.4 billion approved budget for the remainder of the year 2025. This for all city-related expenses such as salaries of employees and payment of social services,” said Ramel.</p><p>Binay-Angeles’ transition team also questioned the former mayor&#x27;s assertion that the city&#x27;s assets could cover the cost of settlement deal.</p><p>“Iba yung budget at iba yung may asset. Yung budget, malinaw, wala. Kung may property ang Makati, meron. Ang tanong kailangan bang ibenta yung property para bayaran ‘to? Ano ba ang mga property ng Makati? Health centers, barangay halls, city hall. Bebenta ko lahat yan para mabayaran ‘to?” said Attorney Christian Lim.</p><p>The new Makati administration also plans to form a fact-finding committee that will investigate and look into possible anomalies in the subway project. As part of the inquiry, they want to determine what InfraDev had already accomplished before the subway project was stalled to warrant such a big claim.</p><p>But Lim said this would be a challenge for them since the previous administration has yet to hand over the complete set of documents and records related to the project despite constant follow ups.</p><p>He said they were not even informed that there was a settlement agreement being negotiated, even if the transition process was already ongoing by then.</p><p>“The documents we have on the subway deal is really isang karton lang, maliit lang. Ang laman lang kontrata, annexes, appraisal, ganun. Pero kung tanungin mo anong laman, ano nang nagawa, walang nakakaalam sa city hall. Ang nakaalam lang, yung developer. So we need time to also study if the proponent had also been performing on its contractual obligations,” he said.</p><p>Lim said if the previous administration will continue to be uncooperative, they may resort to having to ask help from the Senate Blue Ribbon Committee.</p><p>ABS-CBN News has also reached out to Philippine InfraDev for comment but it declined to give a statement for now while arbitration proceedings are underway.</p><p>Moving forward, the Makati LGU said it also plans to look into other Public-Private Partnerships entered into by the previous administration, such as the Makati Life Medical Center and the Makatizen card system.</p><div><strong>HOPE FOR THE MAKATI SUBWAY?</strong></div><p>Meanwhile, Lim said they are not closing their doors on the possibility of working with Taguig City to continue the subway project.</p><p>“Any amicable and win-win solution not only for Makati but for the Philippines is always best,” he said.</p><p>The 11-kilometer Makati Intra-city Subway project, which was supposed to connect key points in the central business district from EDSA Ayala to the Ospital ng Makati, was deemed no longer feasible after the Supreme Court declared the 10 EMBO barangays as part of Taguig. This affected the locations of several subway stations and its depot.</p><div><br/></div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div><iframe width="560" height="315" src="https://www.youtube.com/embed/T2JPIHSXnfw?si=RPmOIBJHe6bWb9T7" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe><br/></div>

<p>Members of the Binay family continued to spar over the stalled Makati Subway Project.</p>

Members of the Binay family continued to spar over the stalled Makati Subway Project.

Binay vs Binay on Makati Subway: Former mayor defends settlement deal, but new mayor rejects

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Binay vs Binay on Makati Subway: Former mayor defends settlement deal, but new mayor rejects

Job Manahan,

Andrea Taguines,

ABS-CBN News

Published Jul 08, 2025 09:28 PM PHT

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Subway project

makati

Makati subway project

Abby Binay

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