Category Archives: real estate

Film and TV, Government, Law Enforcement, real estate, Social Media

ABS-CBN Building: Demolish or Confiscate?

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ABS-CBN headquarters in Quezon City on February 14, 2020. Photo by Jire Carreon/Rappler

QUEZON CITY, Philippines (The Adobo Chronicles, Quezon City Bureau) – In his sixth and final State of the Nation Address (SONA), then President Rordrigo Duterte vented frustrations over ABS-CBN’s supposed dishonesty by importing its equipment “tax-free” and declaring only four hectares of property when it actually has 40 hectares.

Now, the owners of the ABS-CBN Broadcast Center have said they are ready to demolish their iconic building.

But questions arise as to whether or not the government should confiscate the building as payment for the disenfranchised network’s owed taxes.

Netizens argue the building could then be sold to the leading legitimate television network, GMA 7.

From Kapuso to Kapamilya!

Business, real estate, Social Media

Rappler, Adobo Chronicles Compete To Buy Pinoy Big Brother House!

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MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Right around the corner from the main building of the ABS-CBN Broadcast Center in Quezon City stands the Victorian-like, colorful Pinoy Big Brother House, home to many seasons of the popular PBB TV show.

It’s now on sale, an announcement from ABS-CBN said, for P2 Billion! Proceeds from the sale is presumed to help reduce the former television network’s debt which as of July last year, stood at P18.4 Billion.

Maria Ressa’s Rappler Holdings Corporation has reportedly put in a bid for P1.6 Billion, in anticipation of a possible Supreme Court ruling affirming the Nobel Laureate’s conviction for Cyber Libel. If it wins the bid, Rappler is expected to move its main headquarters from Mandaluyong to Quezon City which is considered more friendly to businesses and sympathetic to the political opposition. A possible new CEO has been identified and is waiting on the sidelines for the SC decision.

On the other hand, The Adobo Chronicles is contemplating to bid for the PBB House for P1.8 Billion, as it continues to expand its worldwide reach and to accommodate its increasing staff. AC is on the list of the world’s Top 100 Satire Sites, placing 34th — up from last month’s 38th spot.

May the best bidder win!

real estate

Amazon’s Jeff Bezos To Fund Camella Homes In The Philippines

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MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Senator Cynthia Villar couldn’t be more happy with the recent announcement by Amazon CEO, billionaire Jeff Bezos that he will provide $123 Million to organizations that will move homeless families into permanent homes.

Bezos, with a net worth of US$114.5 billion as of November 2022, is the fourth-wealthiest person in the world and was the wealthiest from 2017 to 2021 according to both Bloomberg’s Billionaires Index and Forbes.

Villar, on the other hand, is part of Camella Homes, a family business venture (Vista Land) that converts farmlands and other real estate into subdivisions in the Philippines.

Bezos, who vowed to fund Camella Homes, refused to disclose how much the Villar family is receiving as a grant as part of the initiative.