Mabalacat City—Westchester Realty Corp. has started its rehabilitation of three controversial low-cost housing communities in Pampanga after acquiring them from the Home Development Mutual Fund or Pag-IBIG Fund for P2.2 billion.
The sprawling properties are Xevera in Mabalacat and Bacolor and Sameera in Angeles City.
“Another P1 billion will be infused for two years development and P1 billion for repair and rehabilitation with a total investment of P4.2 billion,” said Rod G. Valencia, Westchester chairman and former Mindoro congressman.
Valencia, touted as one of the top community builders in the country, said they would rehabilitate the physical structures within the Xevera housing complexes to bring back the glory “of being model communities.”
He said Pag-IBIG Fund found Westchester as “best qualified” for the bulk purchase of the housing units situated in three former Globe Asiatique (GA) projects in Pampanga. The sale was formalized with the signing of Deed of Conditional Sale, he added.
The controversy involving owners of houses in Xevera [Mabalacat] and Globe Asiatique ended in a lawsuit that sent GA top executive Delfin Lee to jail after the Pag-IBIG Fund filed a criminal case against him for syndicated estafa worth P7 billion.
Lee was incarcerated at the Pampanga provincial jail for 10 years but was released and cleared of charges last year.
“The positive development has given me more than what I hoped for the past many years, for the rights of legitimate homeowners are kept in place,” said Lee in a statement.
“And for my dream for ordinary masses to acquire affordable houses they can call their own and live in a model community that would uplift their morale and dignity as well,” he added.
Lee said the Duterte administration has made it a priority to legitimize and properly document the ownership and titles of these housing units, and that is the mandate being followed by the Pag-IBIG Fund.
“My company GA Realty Holdings Corp. has agreed in principle to lift these ‘Lis Pendens’ (pending legal action) cases with a written commitment from Westchester to honor the rights of existing homeowners, including those that are fully paid,” Lee added.
“I am entrusting the Xevera projects to Westchester, rest assured that GARHC will continue to monitor all developments to ensure the rights and security of all legitimate homeowners are kept in place,” he pointed out.
Valencia said Westchester found that “all is not lost” in the housing projects intended to provide decent communities for thousands of Pampanguenos.
“Homeownership is not a privilege but a right by any qualified home borrower or buyer,” said Valencia.
Mabalacat City Mayor Cris Garbo, who graced the turnover ceremony, welcomed the development, saying the takeover would enliven the spirits and boost the morale of the villagers.
