Senator Alan Peter Cayetano has revealed that the total cost of the New Senate Building (NSB) has surged to P31 billion, according to the latest Revised Detailed Architectural and Engineering Designs (R-DAEDS), finalized last month. Factoring in land, furniture, and other expenses, the total project cost could reach P33 billion.
At a press briefing, Cayetano, who chairs the Senate committee on accounts, shared that the cost increase is attributed to updated design systems, plan modifications, and inflation. He pointed out that this revised estimate is the first time a definitive cost and timeline have been established, with project completion now expected between 36 and 48 months for Phase 3, excluding aesthetic and electronic systems work. Cayetano expressed dissatisfaction with this timeline, labeling it “unacceptable.”
In response to the delays and rising costs, Cayetano announced plans to form a new Senate Coordinating Team to reduce procedural bottlenecks. The Department of Public Works and Highways (DPWH), which oversees the project, has been requested to establish a corresponding team.
Initially projected to cost P8.9 billion, the building’s budget was raised to P23 billion. Senate President Francis “Chiz” Escudero recently called for a review of the expenses, aiming to control the rising costs and streamline the project’s completion.