I think, many have no idea or perhaps don’t known that one of the reasons why the Philippine economy is so bustling right now is because of the growing OFW’s. OFW’s contribution to the GDP that reaches almost 12% (and growing) is surely undeniable. I’m pretty sure too that being an OFW is not a long term goal for everyone and many are surely would want to come home one day. So a wise investment scheme is probably the best option that one should have and one clear answer to that is putting your hard earned money in a low risk plan. Investing in land property is on top of the list of many but just make sure that the piece of land you plan to have has clean title.
In other words, you must make sure that you buy it from the lawful owner of the land and that it has no tainted anomalies or strings attached. If not then you will end up with a big headache and wasted time just like the recent disagreement between SM Prime Holdings Inc. and the Bases Conversion and Development Authority (BCDA) involving a prime lot in Taguig City where SM Aura was built.
If you are reading the news then most likely you have read different stories and both parties have different versions on the legality and who’s the absolute owner of the subject parcels of land that has been contested for its intended use. And here’s how it started and to quote, “The American Battle Monument Cemetery under the BCDA encroached on parcels of land owned by Taguig and intended for a civic center. The BCDA and Taguig City agreed to swap parcels of land in exchange of the parcel encroached on by the cemetery, the BCDA gave several parcels of land in Fort Bonifacio to Taguig. The compromise was formalized in two memorandums of agreement (MOAs) signed on Oct. 21, 1999 and Feb. 11, 2004. By virtue of the Deed of Conveyance on Jan. 17, 2008, the BCDA transferred the property to Taguig City, without any land use or zoning restrictions.
One needs not to be a lawyer to know and understand such dispute. Since Taguig, by law, is the rightful owner of the property, has the inherent power on how to use that piece of land. What caught my attention is not about who rightfully owns it but on the matter that the conveyed land has to be used as civic center. Perhaps, that’s what this is all about. One has to find some technical issue in order to get a claim and probably has something to do with competition. I think you know what I mean, considering what other property developers have done in the area.
According to reports, SM Aura Premier was built not just as a commercial complex alone because there are other facilities with in it like hotel, clinic, museum, place of worship, convention hall, public library, government and private offices and other support facilities that was required by the City of Taguig under a resolution so it will become not just a simple civic center but a mixed-used development site. So if you don’t want to be entangled with this kind of unpleasant trouble then you choice wisely before deciding.
Image from rappler.com