Rep. Binay blames ‘overpriced’ Makati building to China

MANILA, Philippines – Representative Abigail Binay blamed the allegedly overpricing of the controversial Makati parking building to the construction boom in China sometime in 2008.

In her interview with Karen Davila on Headstart, Binay said the relatively high costs of construction materials used in the building was brought by the seemingly high demand by China as the country prepared for Beijing Olympics that year.

“You also have to remember the time it was built, it was the time when there was so much high demand on steel because China was buying all the steel because they were building for the Beijing Olympics,” she told Davila.

The Binays are at the center of a controversy over the alleged overpriced building, said to have cost P2.2 billion and critics have accused the family of receiving huge kickbacks from the phase 1 and 2 of project.

This was revealed by former Makati Vice-Mayor Ernesto Mercado during his testimony at the Senate Blue Ribbon committee investigation, who himself, confessed to have received commission from project. (Click here to read more)

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