Ex-Vice Mayor Mercado: Binay-led Boy Scouts had P600-M deal with developer 

Former Makati Vice Mayor Ernesto Mercado is determined to reveal details on an allegedly questionable sale of parcel of land owned by the Boy Scouts of the Philippines to a developer a few years ago, again, linking Vice President Jejomar Binay in the deal, a television report said Wednesday.

Mercado told GMA News TV's "State of the Nation (SONA) with Jessica Soho" that the one-hectare land where skyscraper Alphaland Makati Place along Ayala Avenue stands was bought from the BSP, of which Vice President Jejomar Binay has been the president for 14 years.



Alphaland Makati Place offers residential and commercial units. A mall is also being developed inside the building.

The former Makati City vice mayor is set to testify at the resumption of the Senate blue ribbon subcommittee hearing on Thursday for the probe on VP Binay over the allegedly overpriced building in Makati City.

Mercado said that when he became an official of the BSP in 2008, he signed a joint venture agreement between the organization and Silvertown Property Devt. Corp. – now Alphaland Makati Place Inc. – to develop a piece of land in Makati City that the civic organization owns.

Mercado said that when he left the BSP in 2011, the land was sold to Alphaland for P600 million and that 15% of the sale went to the BSP.

"Wala pa rin naman natanggap na pera ang Boy Scouts of the Philippines doon sa P600 million kasi ang sinasabi nila ngayon eh in-invest daw ng Boy Scout 'yung P600 million sa kanila, eh, diba lutong Macau 'yun?" he told SONA.

Also, Mercado said that the BSP now has accumulated P3 billion from Alphaland over the years.

"Pero nasaan ang dokumento na meron ngang P3 billion ang Boy Scouts from the Alphaland? At ito nalang ang magiging basis ko ng pagsasampa ng plunder case se grupo ng Alphaland, sa grupo ng Boy Scout under the leadership of Binay," he added.

Valid transaction

According to a lawyer from an independent law firm, the transaction between the the BSP and Alphaland is valid, based on the deed of absolute sale. But the law firm noticed one thing.

"It appears to be a valid transaction between the parties. The same as every public corporation, there must be transparency in every transaction they make," Nicolas & De Vega Law Offices senior associate Atty. Jan Paulo Dino said.

Meanwhile, Binay spokesperson Atty. JV Bautista said that the BSP can explain the transaction.
 
"It will be explained by the Boy Scouts kasi it's a separate corporation, separate entity po ito. But ang kailangan pong tignan dito ay bakit naman ito napasok sa usapan," he said.

BSP's lawyer Atty. Wendel Avisado also said that the organization is still looking into the details of the transaction.

GMA News tried to get Alphaland's side but it is yet to give its comment on the issue.

Aside from Mercado's new expose, the Senate blue ribbon subcommittee will continue discussion on the alleged overpriced Makati Science Building. It may also talk about the issues connected with the Pag-IBIG Fund, where Binay serves as the chairman of Housing and Urban Development Coordinating Council.

But the vice president's camp has denied all these accusations.

"There is no such thing as a housing anomaly under Vice President Binay," Bautista stressed. — Trisha Macas/LBG, GMA News