Bondal: Makati Science High School building overpriced, too
Makati Science High School. Screengrab from https://www.makatiscience.edu.ph
MANILA, Philippines — Lawyer Renato Bondal on Thursday bared in a Senate blue ribbon committee probe that the country’s priciest school was built when Vice President Jejomar Binay was mayor in Makati.
Bondal, the complainant of the plunder charge against Binay and his son, current Makati Mayor Junjun Binay, said the Makati Science High school was overpriced by P862 million.
“This is the most expensive high school building in the Philippines,” Bondal told the Senate body.
Bondal said the 10-storey building measuring 18,373 square meters was worth P1.3 billion when it started construction in 2007. It finished construction February 2014.
This means the cost per square meter is at P72,500, Bondal said.
“The overpricing is at 283 percent,” Bondal said.
According to 2013 average industry price, the average cost per square meter is at P25,620.
This means the average cost of the building should be at P470 million only, Bondal said.
The Senate panel is hearing the alleged corruption in Makati involving the vice president and his mayor son.
Former Makati Vice Mayor Ernesto Mercado has testified that both Binays earned kickbacks in various infrastructure projects in Makati.
Mercado has also testified about a 350 hectare “Hacienda Binay” allegedly owned by the vice president using dummy corporations.
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