The cost of the New Senate Building (NSB) has reached a whopping P33.07 billion with the inclusion of the furniture and land, according to Senator Alan Peter Cayetano.

Cayetano said Thursday, Oct. 10, that this detail came out after the project’s Revised Detailed Architectural and Engineering Designs (R-DAEDS) were finalized last month--and only last month.

He says this indicates that before he assumed the chairmanship of the Accounts Committee, the NSB had neither a set price nor final engineering and architectural plans.

Without the furniture and land cost, the NSB price tag was pegged at P31.67 billion.

He also provided updates on the ongoing factual and independent review of the NSB project, and shared concerns about the updated timeline aside from the cost estimates.

“Since we started the review of the project, we haven’t made any accusations or allegations, we’re just fact-finding,” he told reporters.

Cayetano, who chairs the Senate Committee on Accounts that's tasked to oversee the NSB review, revealed that his office recently received a letter from the Department of Public Works and Highways (DPWH). It was forwarded to Senate President Francis “Chiz” Escudero.

According to the DPWH's letter, the projected construction duration for Phase 3 of the building is now between 36 to 48 months, excluding aesthetic, interior fit-out works, and Building Electronics Systems.

Calling the timeline unacceptable, Cayetano said he promptly wrote back to the department to reconsider the construction schedule as such a duration could be enough to complete an entirely new building.

“It’s only now that we have a timeline and overall project cost, but hindi acceptable y’ung timeline na three to four years. And hindi rin acceptable kay Senate President y’ung P31.6 billion na building cost or P33 billion na total project cost,” the senator said.

Cayetano said his committee is working on forming a "new" Senate Coordinating Team (SCT) to streamline internal processes and has asked the DPWH to do the same.

“We’re going to put up a new Senate coordinating committee kasi nga maraming (because there's a lot of), for lack of a better word, red tape, too many people, and too many levels., he said.

Cayetano said the main goal is to bring down the cost significantly without compromising quality and safety.

“Ang trabaho ko is to give an honest report that is comprehensive and factual, and to present to the Senate President and to all the senators a plan na matapos ng pinakamaganda sa least cost y’ung Senate building (My job is to provide an honest, comprehensive, and factual report, and to present to the Senate President and all senators a plan that would complete the Senate building in the most efficient manner at the least cost),” he said.

Senator Nancy Binay and Cayetano had engaged in a heated exchange over the NSB's total cost, which was previously pegged at P21 billion, or P23 billion including the land.