GLOBE ASIATIQUE CONTROVERSY

I actually call it tragedy because it's nothing short of being tragic. A peaceful community caught in the middle of the controversy surrounding its developer Globe Asiatique and Filmal Realty Corporation. Life at Saint Monique Valais is normal as usual but the ongoing problem is still hurting us one way or another.

It was mid August when the workers stopped coming. I didn't notice it at first until a friend who decided to get a unit here asked me. That's when things started to make sense to me. The problem started with Globe Asiatique's Xevera unit in Pampanga. Around 1,600 or so homeowners allegedly applied for a PAG-IBIG loan only to find out that these people don't exist. In short, they are ghost accounts. The case is still under investigation in the Senate and in other government legal offices until now and people are still to find out who is saying the truth.

unfinished townhouses in saint Monique Valais

But reality is, even if the case is isolated in Xevera Pampanga, all Globe Asitique communities are affected and are suffering. PAG-IBIG fund (HDMF) revoked the agreement they have with Filmal realty/ Globe Asitique thereby putting all construction to a virtual stand still We are lucky that our unit has already been taken out by Pag-Ibig as we have moved here almost 2 years ago. Bad news to all new homeowners who are waiting for the approval of their housing loan with HMDF. Worse, many of the new units sold are still under construction.

The pictures below are some of the houses under construction in my village Saint Monique Valais.

I have 2 friends whose house are under construction and like everybody else, they are starting to get worried. Who wouldn't? Who knows what they had to go through just to have that money. I have been advising them to be cautious about their move to cancel. Mr Delfin Lee, the owner of Globe Asiatique already expressed that GA is willing to refund 50% of their down payments less the expenses but I thought that's still unfair.

I told my friends to simply stop payment and wait for the promise of the developer to resume construction in a few months. If they don't do as they say, that's the time to appeal for a full refund as it is already the contractor violating the agreement. That's based on my interpretation of the law and the existing agreement. Under normal circumstances, when you pay for the down payment of any property, you will not refund any amount when you breach the contract.

Yesterday---my friend went to the head office to personally get the word of the people concerned. This what they told her.......

""meron kaming 4 options 1st magcancel kami without pay . Cancelation lang daw kasi un ung policy nila . wala pa daw ung cnasabi ni Mr. lee na pag magbackout ka makukuha mo ung 50% .2nd ,cancel ka. gawa ka ng letter. kung ano ung nakikita ko sa tv at kung ano ung cnabi ni Mr. lee na 50% makukuha. Yun ung isulat ko dun. at ipapa approve nila kay Mr. Lee un. Kung na approve saka kami makakakuha ng 50% . So far may mga nagpapa approve pero wala pang feedback. , 3rd, pwede daw namin ipa assume sa iba. Si broker daw kausapin namin doon sa bagay na yun baka marami pang naghahanap.Para naman daw di kami gaanong lugi if mag backout. 4th. ... kung itutuloy daw namin ung project... pwede daw gawa kami ng letter na saka nalang babayaran kung nag resume na ung construction. ""

These developments really make me feel sad. They decided to own a house and lot here at saint Monique Valais because of me. Not that i convinced them but because they saw the beauty of my place. And now this. Our village is coping well. We are lucky that we have a well established Homeowners Association to absorb the shocks Globe Asiatique (GA) is taking, from the government, the media, Pag-Ibig Fund and the individuals who's units are under construction. But I feel regret for all those who are affected in all GA communities especially those whose houses are still under construction and are still unsure whether they will get their money back should there be further delays.

If you are affected by this controversy, be sure to keep in touch with Globe Asiatique's office in Ortigas. I advice moderation. Don't let your emotions get in the way of good decision.

It would also be helpful if you join some website discussion boards to keep you posted on the latest news. I find PINOY EXCHANGE helpful. Good luck to all of us.........

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what GA has to say -- http://galifestyle.com/?page_id=658