The 90s Benitez deal: Where did the P250M JASMS development fund from HK firm go?

Apparently, all is not as it seems with the Benitezes! They’ve been claiming that it was STI who wanted to commercialize the JASMS QC property on EDSA, but as it turns out in this blog… IT WAS THE BENITEZES who originally wanted to KICK JASMS OUT of that PROPERTY AND PLACE IT IN FAIRVIEW!!

The Aristocratic Thieves

In the mid-1990s, Jolly Benitez, the father of PWU President Kiko Benitez, had an ambitious plan. He wanted to transfer pupils and students of JASMS in Quezon City to some remote location in Fairview.

The idea was simple and straightforward. For the Benitezes, the JASMS property located in EDSA had grown so much in value that Jolly figured they would get more profits if they just evict the school community there and turn the entire place into shopping malls and condos.

Jolly, a known Marcos crony and former deputy minister of Imelda Marcos’ Ministry of Human Settlements, had commissioned the formulation of a development plan for his commercial property project.

The 1990s represented the first phase of mall projects boom and the plan Jolly had for JASMS was so enticing that the Benitezes managed to get the attention of Hongkong firm Jardine Land. In no time, Jardine was in on…

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About suddenblessings

Writing is a hobby that got me places and helped me meet people who gave me pretty good writing gigs. I devote my extra time to writing about things that people tend to overlook, like caring for the environment and preventing the further ruin of ecological systems. My mother was half Filipina and my father was an Irish newspaper reporter, they've both passed on now. I spend time between Toronto and come to Manila (actually, Marikina) when I'm on my sabbatical. And I will never probably never ever stop laughing inside whenever a new Filipino friend tries to feed me balot or dinuguan or sisig -- favorites of mine since childhood.
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