PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

Megaworld seeks dismissal of Binondo case

By Manila Standard Today | Posted on Nov. 10, 2012 at 12:01am |

Megaworld Corp. has asked the Housing and Land Use Regulatory Board to dismiss outright the petition of Nesco International Development Corp. seeking to revoke its certificate of registration, license to sell and development permit for The City Place project in Binondo, Manila.

Megaworld said Nesco’s pleas were absurd, adding Nesco illegally occupied a two-story commercial building on a government property in Numancia, Binondo. The city government of Manila demolished the property to prepare the site for its redevelopment.

Megaworld said Nesco had absolutely no ownership rights over the property and that it had no business relationship with the complainant.

Nesco alleged in its complaint that Megaworld submitted fake and manufactured land titles of the site, where it built the City Place Condominium and Lucky Plaza Mall in Binondo.

Nesco 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.”

Megaworld stressed that it signed in April 2006 a build-and-transfer arrangement with the city of Manila for the construction of public school buildings with residential quarters for the faculty, after a successful public bidding process.

Megaworld said Nesco had no legal basis to ask for a revocation of the permits for The City Place since it was not a buyer of any unit within the property.

real estate central philippines
Copyright ©2008-2018