In the October 18, 2011 issue of the Manila Standard Today, it was reported that Robinsons Land Corporation of taipan John Gokongwei bought 2.85 billion pesos of properties, for land banking, in several places, including one in Malabon City. Land banking is the practice of buying properties for future use or buying land without any current definite plan on what to build on it.
So far, Robinsons Land Corporation (or RLC) is the biggest real estate developer to invest in what could possibly be the biggest property development in my home city. And this makes me wonder… Why?
Malabon City has earned the unenviable reputation of being The Flood Capital of Metro Manila.
It has 21 barangays and most people who do not live in Malabon think that the entire city is flood-prone. That is not true. There are at least four barangays that remain generally or partly flood-free regardless of how heavy the rain is, and that includes the barangay where I live – Tugatog (which means zenith or apex in English) – the highest elevated barangay in Malabon. The others are Barangays Acacia, Tinajeros and Potrero. (more…)
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