Bad investment: Owners of Andrew Tan’s Megaworld, Empire East properties bare construction defects, unjust terms

Hundreds of Megaworld and Empire East property owners have signed an online petition demanding action from bilyonaryo Andrew Tan for construction defects and unjust payment terms that have made them regret making the investment.

A Facebook group called “Megaworld Pissed Buyers” started a petition on detailing the litany of problems in Megaworld and Empire East properties. These include leaking ceilings and balconies, long delay in turnover of units, and gaps in documentation and financing.

“The 2 developers refuse to do the following: Issue full refund even if they failed to deliver the unit or develop the condominium project according to the approved plans and within the time limit; and issue at least 50% refund to some of those who thought that there’s nothing wrong with the developer’s payment plan of having 2 years in-house financing loan before the bank loan,” said the original petition, with a goal of 500 signatures.

According to the petition, some property owners are now experiencing buyers’ remorse, especially those who made a one-time full payment.

“They say that buying a property is a good investment but it’s not always the case. There are also some buyers who made a one time full payment for Megaworld and Empire East but they also got disappointed due to poor quality of the unit or the whole building, delays in turnover, homeowners association being managed by the developer’s property management company which is the First Oceanic and delays in getting the Condominium Certificate of Title,” it read.

As of Sunday (October 23), 454 netizens had signed the petition. Megaworld and Empire East property owners said the government should not turn a deaf ear to their concerns just because Tan’s firms are “paying huge taxes and donating lands.”

“What’s the point of having a government if it cannot implement the existing laws?,” they added. “We want a change. Please help us.”

HSAC Techs Up with UnionBank’s UPAY for digital settlement of fees

The Human Settlements Adjudication Commission (HSAC) has signed a memorandum of agreement with Union Bank of the Philippines (UnionBank) for a partnership that will allow HSAC to digitize the payment of fees for its services. The signing ceremony took place last November 23 at the HSAC Office in Quezon City.