By Manila Standard Today | Posted on Nov. 05, 2012 at 12:01am |
[ manilastandardtoday.com ]
A local company has asked the Housing and Land Use Regulatory Board to revoke the certificate of registration, license to sell and development permit of Megaworld Corp. for submitting allegedly fake and manufactured land titles of the site where it built the City Place Condominium and Lucky Plaza Mall in Binondo, Manila.
Nesco International Development Corp. in a complaint asked the HLURB to recall all condominium certificates of title, charging that the titles submitted by the City of Manila and Megaworld were “highly questionable, infirm and dubious.”
“This enabled respondents to build the present City Place and Lucky Plaza Mall in Binondo, as in fact, Megaworld even used our dear President Benigno Aquino III to inaugurate the project to showboat its power, influence and connection with him,” Nesco said in the complaint.
Megaworld built the project on the former Cuartel Meisic site in Binondo, Manila. The complainant, however, claimed the national government had been the owner of the untitled property, called “Cuartel Meisic,” covering 2.6 hectares at the corner of Felipe St. and Reina Regente St. in Binondo. The property is now worth at least P7.7 billion based on the market price of P300,000 per square meter.
Records show the City Council of Manila turned over the property to Megaworld in exchange for several floors at a high-rise condominium project and the relocation of schools in the affected site. The complainant said the City Council had no authority to turn over the property since it was owned by the national government.
The personalities involved in the transaction allegedly used fake and manufactured transfer certificates of title and original certificate of title in executing an agreement for the full commercial development of Cuartel Meisic by Megaworld through a joint venture with the City of Manila.