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Lugi tayo! Palace wants Duterte to review UP Technohub deal

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By Prince Golez

Malacañang said it will recommend to President Rodrigo Duterte to study the 25-year leasing agreement property firm Ayala Land Inc. (ALI) signed with the University of the Philippines (UP) for the development of UP-Ayala TechnoHub in Quezon City.

This, after ALI said in a statement that UP would get P10.23 billion in lease payments after the contract ends in 2033. The state university will also own all 16 commercial buildings within the 38-hectare complex.

“Lugi ang gobyerno dito,” Presidential Spokesperson Salvador Panelo said on Tuesday.

“Ipagpalagay mo lang na P1 million lang ang ini-earn ng isang building. Eh maliit na yun. Sa isang building ilan ba ang nagrerenta doon? Ipagpalagay mo na average mo P1 million, eh 16 commercial buildings, o eh di meron silang 16 million a month times 12 mo yun, tapos times 25, sige nga,” he added.

Panelo also branded ALI’s lease deal with UP in 2006 as “another rip-off.”

“I will recommend to the President if this is true on the basis of a study and on the basis of their admission that only (P10.23) billion will be taken by the government at the end of 25 years. Pag-aralan natin ito. Mukhang kawawa naman ang gobyerno nito,” he concluded.

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