Land value in Marawi skyrockets

Dharel Placido, ABS-CBN News

May 04 2018

MARAWI CITY: The value of some parcels of land in this city has skyrocketed as some land owners have supposedly taken advantage of the situation in the war-torn area, a government official said Friday.

This as government is looking for sites within Marawi where it could build housing facilities for displaced residents and other structures meant for the rehabilitation of the Islamic city.

National Economic and Development Authority Undersecretary Adoracion Navarro cited one case where a parcel of land that used to cost P500 per square meter is now priced at P5,000 per square meter.

She said the sudden price spike is usually expected after a conflict, but added that the government hopes to temper the practice of some land owners to steeply raise the value of the land they own.

“That’s true in a post-disaster situation. There are stakeholders even on the ground who are taking advantage of the crisis situation,” Navarro said in a Bangon Marawi press briefing in Malacañang.

“That’s why the government is being careful in ascertaining the amounts and locations of proposed different projects.”

Navarro made the assurance that this practice is not yet widespread in Marawi.

“The market value depends on the negotiation. If a government official will effectively say, ‘no, we won’t accept 10 times the former market value,’ then that pronouncement can be effective in sort of reducing [those] speculative activities,” Navarro said.

“I’m hoping Task Force [Bangon Marawi] Chair Eduardo Del Rosario makes a strong statement to address this. If they will be able to come up with a reasonable price, there won’t be a need to find another location.”

Navarro said all projects, programs and activities (PPAs) under the Marawi rehabilitation plan are undergoing a vetting process to ensure that they are cost-effective and would fall within the government’s budget. This also aims to guarantee that there will be no duplication of PPAs. 

The government has pegged the rehabilitation cost for Marawi at P72 billion. Of this amount, at least P17 billion may be needed for the rehabilitation of Marawi’s “most affected area,” composed of 24 of Marawi’s 96 barangays. 

Marawi rehab to cost at least P72 billion 

The city, formerly a commercial and cultural hub in Mindanao, was left in shambles after a five-month siege led by Islamic State-linked terrorists last year. - ABSCBN News