Marikina acquires 3-hectare lot for 1K residents

MANILA -- The city government of Marikina on Tuesday announced it has acquired a three-hectare lot in Barangay Tumana which will be subdivided to around 1,000 beneficiaries from the community.

Mayor Marcelino “Marcy” Teodoro said the city government directly purchased the lot in Barangay Tumana from the Philippine Deposit Insurance Corporation (PDIC) which is the liquidator of the Admiral United Savings Bank (AUSB).

The bank was closed by the Bangko Sentral ng Pilipinas (BSP) in 1984.

PDIC said that a private corporation that formerly owned the lot in Barangay Tumana insisted ownership over the property, causing a very long litigation. AUSB foreclosed the property after the company failed to pay its debt.

The mayor and PDIC President Roberto Tan went to Barangay Tumana on Sunday for the turnover of the final deed of sale of the lot. It was witnessed by the beneficiaries

.“Hindi ito (This is not a) community mortgage program. This is a local initiative by the city government, a direct acquisition of the property. We will be subdividing and awarding it to individual families who are already occupying the said area,” Teodoro said in a statement.

According to Teodoro, the subdivided lots will be sold for the same price it was acquired at PHP799 per square meter.

“The residents will only pay PHP799 per square meter. All in all, we paid PDIC a total of PHP27 million,” he told residents.

The mayor said their main priority is to move the residents living in danger zones to safer grounds in the city where they can live with dignity and with no fear of demolition.

"Dito po sa Marikina ay sinikap po natin na ang mga pamilyang nasa danger zone, nasa right of way ng mga gagawing kalsada, imprastraktura, ay inilipat po natin sa (Here in Marikina, we try to transfer families living in danger zones or in areas which are covered by right of way of streets and infrastructures in) in-city settlement areas. As of today, we have 243 settlement areas in Marikina,” he said.

Since Teodoro took office in 2016, a total of 1,500 land titles were awarded to former illegal settlers.

The mayor said that the Marikina LGU does not only want to rely on Social Housing Finance Corporation (SHFC), saying that is why they are acquiring private properties to give to their residents to make them legitimate landowners.

For his part, the PDIC president said that the depositors of Admiral bank will now get paid due to the payment from the Marikina LGU.

He is pertaining to the excess amount not covered by the insurance of PDIC or those who deposited more than PHP500, 000.

Earlier, Nena V. Tiglao, Marikina City Land Management and Community Relations Division chief, said the land distribution was intensified in their city following the order of Teodoro because he wants all residents to own land.

Over 100 households from Metro Manila received their respective transfer certificate of title from the SHFC during the program. They are now part of the more than 300,000 families who have attained land tenure security since the inception of CMP in 1988, the agency said.

Lawyer Arnolfo Ricardo Cabling, SFHC president, also commended Mayor Teodoro and said that the coordination with local governments plays a very important role in their work of providing resilient and sustainable communities to people. (PNA)

News Feed:

https://www.pna.gov.ph/articles/1080615
Latest News | Philippine News Agency