[News] Discover What Makes Chief Justice Corona’s Real Estate in the Philippines Controversial

Chief Justice Corona’s real estates in the Philippines are currently the hot topic at the impeach trial set against him. Definitely it was not an ordinary condominium unit since the same are flooded with controversies especially the one in Bellagio Tower I at the Fort, Taguig City.

In its official website, the Megaworld Corp. described the said elegant condominium as a real estate property situated across Manila Golf Club and Country Club. It is a luxurious residence conveniently sitting close to a mix residential and commercial development with shopping malls, supermarkets and recreational facilities within the Fort.

The unit owned by Chief Justice Corona is lying at the top of Bellagio Tower I – the 303.5 square meter pent house. The tower features function rooms, day-care center, gym, game room and convertible rooms.

A real estate broker described the magistrate’s unit as a four bedroom penthouse, with three additional parking spaces which was separately bought by Chief Justice Corona. For its amenities, said penthouse includes a landscaped garden, a horizon edge swimming pool with in water pool lounge, a kid pool, a sun bathing deck and a children’s playground.

The Bellagio Tower I penthouse was completed in 2008 and in 2009, it was sold to the Chief Justice in the amount of $14.5 million and allegedly on an installment basis.



At present, said penthouse unit of the chief justice may be sold for at least Php30 million based on its current market price according to the licensed real estate broker selling condominium units at Bellagio Tower I – Randell Enverga. Enverga added in his statement with the GMA News that if the said property would be subject for sale including all the improvements thereon and its furnishing costs, its sale could amount to Php38 million considering the high zonal value at the Fort.

In his 2010 Statement, Assets, Liabilities and Net Worth (SALN), the Chief Justice declared his penthouse unit in terms of its current market value at Php6.8 million which makes the prosecution of the on going impeachment trial to accuse the magistrate of non-public disclosure of his SALN. The prosecution seeks for the truthfulness of the declaration of his assets and liabilities.

Said penthouse unit worth Php30 million is just one of the Chief Justice’s most luxurious property in the Philippine real estate and the foregoing impeachment trial is still searching for the magistrate’s other properties. The property just became the most talk of the impeachment since it’s the most controversial of all his properties definitely due to its being over-expensive and extra-luxury.


LINK:
GMA News - http://www.gmanetwork.com/news/
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