The property group now in the eye of a storm over an “eyesore” of a building in Manila believes that the company will be “vindicated” because it secured all the needed permits and did not violate any regulations in the construction of the Torre de Manila, which it said is “almost complete.”
In a news briefing over the weekend, DMCI Holdings Inc. president Isidro Consunji said the 46-storey building behind the Rizal Monument in Rizal Park (Luneta) is 90 percent sold.
He added that the building should be completed so that it will not remain an “eyesore.”
“The Supreme Court only asked na pwede pag-usapan natin [if can we talk about it]. We believe that we will be vindicated. As of now, the building is more than 90 percent sold. It’s a beautiful place. Actually, we studied that area. There’s no new building in the last 30 years there. And we’re solving people’s problem in housing,” Consuji told reporters.
“Almost complete [is the]structure. All floors also almost [done]. [If we don’t finish it], it’s a tremendous eye sore. We hope that we can continue [the construction],” he said.
The Supreme Court issued a temporary restraining order last week stopping the company from proceeding with the construction of the structure.
Consunji said most of the buyers were “doctors, City Hall employees and the Chinese of Binondo [district in Manila].”
He admitted that a few buyers “backed out” because of the controversy.
“A few backed out. Most believe that we will be vindicated. Once the Supreme Court gets the necessary information, probably the temporary suspension will be lifted,” Consunji said.
“This experience is a little bit unsettling to foreign investors because when people start to meddle, it creates unnecessary anxiety. I hope… this case will be resolved,” the DMCI president added.
He noted that his group also secured a permit from the National Historical Commission and urged the government to stick to its “rules of the game” instead of “changing” them.
“The more monumental issue here is the changing of the rules in the middle of the game. You have to be consistent,” Consunji said.
Last week, DMCI said it is “studying remedies” amid the issuance of the TRO, “including the filing of a motion to lift it as soon as possible so as not to compromise our completion target and protect the interest of our condominium unit buyers.”
Torre de Manila is set to be completed and turned over to buyers by November 2017.
“We will do our best to minimize any damage or inconvenience while we comply with the TRO. DMCI Homes is committed to undergo the judicial process, and we will vigorously pursue all legal remedies to obtain a fair and just resolution of the issues raised about the Torre de Manila project,” the company said in a statement.
The High Court will hold oral arguments on the case on June 30.