DMCI Project Developers Inc., a unit of the listed DMCI Holdings Inc., has given homebuyers at the Acacia Estates Ivory Woods project in Taguig City options to either transfer to another condominium unit or receive a full refund based on the current market value of the property.
DMCI Holdings president and chief executive Isidro Consunji made the commitment during a hearing conducted by the Senate’s Committee on Labor, Employment and Human Resources Development on Jan. 24, 2024, after the Department of Human Settlements and Urban Development (DSHUD) issued a suspension order on the license to sell for the property development project of DMCI Project Developers Inc.
DSHUD-National Capital Region director Jacinto Doral said the department issued the suspension order on Jan. 19. The committee, led by Senator Jinggoy Estrada, held the hearing in response to the resolution filed by Senator Raffy Tulfo to identify challenges in the enforcement of judicial decisions in labor disputes.
The committee listened to complaints from laborers of Liberty Transport Corp., owned by the Lacsina siblings, which is embroiled in a 25-year legal dispute over a 1.6-hectare property in Taguig. The Supreme Court had previously issued a ruling granting the disputed property to the Liberty Transport Corp. workers.
Before the issuance of a license to sell, a developer is required to secure a development permit from DSHUD. As part of the requirement for this permit, the developer should submit a property that is free from any liens. The Senate committee discovered that DMCI submitted the requirements for the issuance of a development permit for Acacia Estates Ivory Woods despite the pending valid legal claim against it.
According to DSHUD rules and regulations, only a property free from liens should be submitted for approval by any developer requesting a development permit. However, DSHUD’s previous officials approved the development permit and issued a license to sell for the project.
DMCI officials confirmed during the Senate hearing that they had erected a condominium on the disputed property and sold condominium units to buyers.