After being struck by a 6.5-magnitude earthquake in October last year, tenants of Ecoland 4000 in Davao City will soon be receiving compensation for their collapsed condo units.
Presidential Spokesperson Salvador Panelo said in a statement that the Department of Human Settlements and Urban Development is currently holding discussions with Consunji-led DMCI affiliate Urban Property Developers Inc. after it agreed to compensate its affected customers.
The Department of Human Settlements and Urban Development will be the one undertaking the negotiations on behalf of the government to resolve the issue, Panelo said.
Last month, DMCI President and CEO Isidro "Sid" Consunji agreed to compensate tenants 150 percent of what they paid for their collapsed condo units.
Consunji initially refused to take responsibility for the condo built by its sister firm in Davao until the President took a swipe at him in a speech.
Duterte criticized Consunji, a shareholder of Maynilad, for making remarks on onerous water contracts while refusing to take responsibility for the damaged condo units built by its sister firm.
He also threatened to suspend the permit of Consunji, who also runs coal mines under Semirara Mining and Power Corp.
Consunji earlier said he could understand where Duterte's tirade against water firms is coming from because the previous water concession contract was not drafted by the private sector.
He warned that both Maynilad and Manila Water would go bankrupt should Duterte push through with revoking water supply deals for Metro Manila.
The Metropolitan Waterworks and Sewerage System had revoked the resolution extending the onerous concession agreement with the two water firms.
Source: Philippines News Agency