Alvarez bought several hundreds of hectares of land in Samal and paid in cash

The camp of ousted House Speaker Pantaleon Alvarez reportedly bought almost 400 hectares of land in the Island Garden City of Samal from 2016 to 2017 with the total amount reaching to almost one billion pesos.

A property broker who has an inside knowledge of the transactions said that Alvarez’s chief aide and now Davao del Norte gubernatorial candidate Edwin Jubahib approached them two years ago asking for properties for sale in the said island.

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The broker said landowners were enticed to sell their lands due to the huge offer made by Alvarez’s camp ranging from P3 million to as much as P8 million per hectare.

One area in particular was the coastal area of Barangay San Remigio. The broker said a popular resort was bought for P8 million per hectare while another property in Talicud Island was bought for P3 million per hectare.

The broker said the Talicud property was about 114 hectares and was said to have been paid in cash.

A check with the Department of Trade and Industry showed a business registration under the name of Edwin Ignacio Jubahib. The business is registered as Samalenyo-Pearl Resort located in Barangay San Remigio, Island Garden City of Samal.

DTI registration of Samal resort

The broker said, the original landowners were told that they will be paid in cold cash. The broker said, the landowners were advised to proceed to a hotel in Davao City from February 4 to March 3, 2017 for the payment.

The broker said that a few of the landowners decided to back out of the deal while many were having a hard time depositing the large amount of cash in banks in Davao City since the banks were demanding for deeds of sale before their cash could be deposited.

The broker said the landowners later decided to deposit the millions of cash in a bank in the Island Garden City of Samal that did not ask for deed of sale.

The broker said that the camp of Alvarez rented several rooms in a Davao City hotel where they processed the payment to the landowners. The broker said that one of the rooms contained the stacks and stacks of cash bundled into one million pesos each.

The broker said that there was so much money in the said room that the height of the stacked cash almost reached the hotel’s window.

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The broker said that though the name of the property buyer in the documents is one Jefferson Cheng, they never saw Cheng throughout the process. Cheng was said to be Alvarez’s partner in the the controversial multi-million dollar Piatco deal.

Cheng is also the supposed buyer of the P250 million property in Matina Shrine Hills bought from the Abelleras.

The broker said it was only Jubahib whom they talked to directly all throughout and met then Speaker Alvarez only once when he visited the area.

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The broker said the negotiation for the sale was made in only a few days while the processing for the payment took more than a month.

The broker revealed that they got 5% commission from deal along with Jubahib and Igacos Mayor Al David Uy who, the broker said, got as much as P50 million in commission.

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6 comments

  1. That is what we call “money laundering”.. Nagbayad bang taxes yung brokers Bilyonaryo pala itong si Alvarez 400hectares of land binili. Asan ang BIR dito. Why don’t you check on them.

    Like

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