SBMA Chairman and Administrator Jonathan D. Tan signs a Memorandum of Agreement (MOA) and the Deed of Dacion En Pago with Philippine Guarantee Corporation (PhilGuarantee) President and CEO Alberto E. Pascual at the Board Room of the Administration Building on Thursday.
The MOA and Deed of Dacion En Pago states that PhilGuarantee will turn over the leasehold rights over the El Kabayo Stables, Times Square Complex, and Triboa Bay Lots to the SBMA as partial consideration or settlement of the former’s outstanding obligations to the latter.