UP willing to renegotiate Technohub deal with Ayala

Technohub, a bustling commercial and call center hub inside the University of the Philippines (UP) campus in Quezon City, is under scrutiny by Malacañang for an alleged disadvantageous deal.

Ayala Land Inc developed the Technohub property under a lease agreement with UP, but presidential spokesman Salvador Panelo claimed UP was getting only PHP20 (US$0.40) per square meter in monthly lease. Ayala Land, however, said the amount was in fact PHP171 per sqm and that it had given UP PHP1.1bn from 2008 to 2018 as lease payments.

UP said it is willing to renegotiate the deal, with its vice-president for public affairs, Elena Pernia, adding that UP did not see the deal as disadvantageous when it was completed in 2006.

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