NCCA set on owning MET by yearend

The National Commission for Culture and the Arts (NCCA) is reportedly targeting to gain ownership of the Metropolitan Theater (MET) before the end of the year, a source said yesterday.

The insider said while the agency hopes to acquire the MET “definitely within the year,” the NCCA is still engaged in “negotiation with the Department of Budget and Management on the terms of payment.”

The NCCA has informed the Government Service Insurance System (GSIS) that it is interested in purchasing the MET for P270 million.

Aside from the NCCA, the Manila City government has expressed interest in buying the MET, one of the city’s historic landmarks.

The city government earlier announced its intention to buy the MET for P267 million. The theater would be used by the Universidad de Manila’s Institute of Performing Arts and the Pamantasan ng Lungsod ng Maynila.

Manila Mayor Joseph Estrada had asked the NCCA to waive its right of first refusal to purchase the property, but the NCCA placed a counter-offer of P270 million for the MET.

NCCA chairman Felipe de Leon, in a letter dated May 4, informed GSIS president and general manager Robert Vergara that the NCCA will not waive its right of first refusal and will buy the MET with money sourced from the National Endowment Fund for Culture and the Arts, which the agency administers.

The NCCA plans to transfer some of its offices to the MET and turn it into a mini- Cultural Center of the Philippines.

The MET was designed by architect Juan Arellano and inaugurated on Dec. 10, 1931. The Philippine Art Deco building is situated at the intersection of Padre Burgos Avenue and Arroceros street.