Atty. Renato Bondal told the Senate Blue Ribbon subcommitte investigating various allegations against Vice Pres. Jejomar Binay that the 12-story building was construction of more than half a billion pesos, more than the normal cost of building similar structures in 2007. Atty. Bondal revealed that he arrived with the P579.8 million figures through the help of a property appraiser.
The critics of the Vice President and his family noted that the President and Chief Executive Officer of Cuervo Valuers and Advisory Inc. Federico Cuervo was th eone who was helping him in estimating the total cost of the controversial nursing college building of Makati City.
Aside from the estimated over pricing of the University of Makati & STI Nursing building, Atty. Bondal also revealed that the contract for the construction of the alleged overpriced building allegedly went to “favored” firm Hilmarc’s Construction Corp., without bidding.
The controversial construction company is also the same company that was involved in the controversial Makati City Hall Building II. The accusations of Atty. Bondal is the latest in a string of corruption issues involving the family of Vice President Jejomar Binay who already announced that he will be running for President in the 2016 National Elections.
The Senate hearing conducted on Monday delved into the allegedly anomalous deal that the city government of Makati entered into Systems Technology Inc. (STI) to set up the nursing school wherein Bondal earlier accused the Vice President of profiting from the 2003 joint venture which Vice Pres. Binay denied.
