Just one day after Sen. Jinggoy Estrada delivered a privilege speech accusing Mandaluyong City Rep. Neptali Gonzales III of questionable transactions regarding the PDAF, the beleaguered senator admits to building a multi-million house in a posh village Wack Wack in the same city.
The said house which is being built across a 3,084 square meters sprawling land is reportedly costing around 120 Million pesos, while the lot, at a price of P70,000 to P80,000 per square meter could be worth between P210 M to P240 M.
In a phone interview with reporters, Jinggoy admitted to owning the colossal property which he said started construction in 2012. He also said that he sold his property in Greenhills and used the money to pay for building the new house. He further added that his house in San Juan needs renovation and the cost of repair is much higher than purchasing a new one.
However, the line was cut before he could answer questions from reporters about his Statement of Assets, Liabilities and Net Worth (SALN).
In 2012, Sen. Estrada reported a net worth of P193,580,509.92, of which he had P66 Million in real properties, P149.16 Million in personal properties and P21.66 million liabilities. But it does not include the Wack Wack property among his 3 condos in San Juan, a condo in Tagaytay City, a Lipa City farm, another condo unit, two lots, a town house and a house under construction in QC.
Also, in his 2010 SALN , his San Juan property is reportedly estimated at a market value of only P10.9 Million ( P6.1M for the lot and P4.8M for the house). But this no longer appeared in next year’s (2011) SALN. His purchase of any new property also did not appear in 2011 and even in 2012 SALN, the year he said the construction started.
When pressed for explanation during a follow up interview later, Sen. Jinggoy clarified that it cannot be included in 2012 SALN since it has not been transferred yet to his name.
Wack Wack Subdivision is a posh residential village located at corner of Epifanio Delos Santos Ave. (EDSA) and Ortigas Avenue just across the prestigious Wack Wack Country Club. Among his neighbors who had similarly acquired property in the same area are Rep. Toby Tiangco of Navotas and Rep. Juan Pablo Bondoc of Pampanga.
Sen. Jinggoy Estrada was among the three senators charged with plunder cases before the Ombudsman last September 16 for allegedly pocketing at least P183.79 M from Napoles’ pork barrel scam. His net worth is reported to have jumped by a staggering 133% in five years, from 2007 to 2012.