5 big developers deny giving condo units to Binay
Five of the country’s largest property developers on Wednesday dismissed allegations that giving condominium units to Vice President Jejomar Binay (shown in photo) in exchange for tax and building permit concessions when he was mayor of the country’s financial hub was an “open secret.” INQUIRER FILE PHOTO / NIÑO JESUS ORBETA
MANILA, Philippines–Five of the country’s largest property developers on Wednesday dismissed allegations that giving condominium units to Vice President Jejomar Binay in exchange for tax and building permit concessions when he was mayor of the country’s financial hub was an “open secret.”
SM Development Corp. (SMDC), Megaworld Corp., Robinsons Land Corp. (RLC), Rockwell Land Corp. and Eton Properties dismissed claims by the Vice President’s former vice mayor, Ernesto Mercado, during Tuesday’s hearing of the Senate blue ribbon subcommittee that condominium units were given away under Binay’s watch as a matter of course in exchange for favors.
Mercado, star witness in the panel’s inquiry on corruption allegations against Binay, earlier claimed that only Ayala Land Inc., Makati’s biggest landlord, did not give condominium units to Binay in exchange for concessions.
That Binay is allegedly getting a unit for every condominium built in the nation’s financial center is a long-running rumor within the business community. Prior to Mercado’s testimony, no one had publicly accused the longtime Makati mayor of the alleged shenanigan.
Even now that the lid was blown off the supposed open secret, no property developer would back up such allegations.
“This is not our business practice nor have we encountered a request of this nature,” said Bernard Vincent Dy, president of Ayala Land, whose crown jewel is the Makati central business district.
“No, we don’t do that,” said Harold Geronimo, Megaworld’s head of public relations and communications.
SMDC, a newer player in residential development, said in a statement: “We started our Makati condo project late 2010 and Vice President Binay or any member of his family has no unit or units in our project.”
SMDC is referring to the four-tower Jazz Residences in Bel-Air Makati, a residential complex which has its own mall—Jazz Mall.
A spokesperson from Gokongwei-led RLC issued the same denial. RLC, which had been less aggressive in residential development compared to its peers in the last few years, has only one residential project in Makati—the upscale Signa Designer Residences, a joint venture with Security Bank Corp.
The Lopez-led Rockwell Land, in a statement, said: “Our records bare no history of any transaction with Vice President Binay nor his family members. And neither is there any unit currently registered under the ownership of the Vice President nor his family members.”
Eton Properties of the Lucio Tan group said: “Eton did not and will not give any condominium unit to any politician or government official in exchange for preferential treatment as Eton maintains a policy of complying with all LGU (local government unit) regulations for all its developments.”
Originally posted at 7:07 pm | Wednesday, November 19, 2014
RELATED STORIES
