"For all we care!" was the remark made by Laviña over reports that the real estate giant might be pulling out its multi-billion investments through its numerous real estate developments in the city as a result of the city council's denial of the request for the reclassification of the zoning of one of its projects.
At present, Filinvest has poured in a total of P12 billion worth of investments in the city with 10 real estate developments.
"It has a very bleak future, and it seems impossible for them to get 21 votes for the approval of their reclassification," the councilor told reporters Wednesday.
Filinvest has earlier asked for a reclassification of Barangay Dumoy in Talomo District area from a low density residential to a medium density residential.
The contested area is claimed to be the city's aquifer, although hundred other residential developments have already sprouted in the area, most of which are low cost housing which do not actually follow the environmental rules and regulations set forth.
"The other residential developments have not asked for reclassification, Filinvest is seeking reclassification," Laviña said.
It is not clear, however, whether the existing residential developments in the area have actually complied with the zoning imposed by the city government.
"It seems that they will not be able to get the 21 votes needed for the reclassification of their land," he said. (CPM)
