Sen. Antonio Trillanes IV. INQUIRER FILE PHOTO
MANILA, Philippines — Senator Antonio Trillanes IV on Thursday asked the Senate to conduct an ocular inspection of the Makati Science High School building allegedly overpriced and built when Vice President Jejomar Binay was mayor.
During Senate’s probe on Thursday, Trillanes asked the blue ribbon committee’s approval to conduct an ocular inspection.
Trillanes had led an ocular around the 350-hectare property called “Hacienda Binay” that was allegedly acquired by the vice president through dummy corporations, as well as the Makati parking building allegedly overpriced when he was mayor.
Lawyer Renato Bondal, the complainant of the plunder charge against the vice president and his son Makati Mayor Junjun Binay, said during the Senate hearing that the 10-storey high school 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.
But 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 overpricing is at 283 percent,” Bondal said, calling the school the country’s priciest building.
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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