Heck, I wouldn't be surprised if magkakaroon din ng smaller version ng Araneta Coliseum sa area na yan. Considering the Araneta's ties with MW, there's a possibility the latter will develop selected portions of the property. 😅
The Supreme Court, in a January 25 decision made public this month, affirmed the Court of Appeals’ decision reversing the Caloocan Regional Trial Court’s granting of a writ of preliminary injunction in connection with security measures installed and operated by CDI at the entrance of and along Gregorio Araneta Avenue.
But in its ruling, the high court found that the CA “did not commit any reversible error when it reversed the RTC’s order granting the City’s prayer for the issuance of a writ of preliminary injunction.”
The city “failed to establish the requisites of a writ of preliminary injunction, particularly the existence of a clear and unmistakable right to be protected and the material and substantial invasion thereof,” the Supreme Court said.
Pangarap Village is a vast 156-hectare land in Barangays 181 and 182 in North Caloocan, which was declared as a resettlement area by President Ferdinand Marcos under Presidential Decree 293 in 1973. But this decree was declared unconstitutional by the Supreme Court in 1988.
WHEREAS, these families, who subsequently organized themselves and formed the Malacañang Homeowners Association, Inc., transferred their humble dwellings, in October, 1972, to the vicinity of the Tala Estate, believing that the land therein forms part of the property of the Republic of the Philippines, available for disposition and sale to them;
WHEREAS, the said land is, however, being claimed by the Carmel Farms, Inc., on the basis of alleged Sale Certificates and/or Transfer Certificate of Title issued in its favor, but which certificates were recently discovered to have been illegally issued, contrary to the pertinent provisions of Act 1120, as amended, otherwise known as the Friar Lands Act, because of non-payment of consideration and encroachment upon property of the Republic of the Philippines;
Araneta Properties chairman Gregorio Araneta III said the company’s property in Caloocan was a very good site for a business district because of the development of Metro Rail Transit Line 7 in the northern part of Metro Manila.
“That would be my central business district because currently there is no central business district in Caloocan. It will be the best township development,” Araneta said.
The property firm is reviewing its funding options to finance the development of the project. The Caloocan property is one of the big pieces of land that Araneta plans to consolidate under his listed property firm. Aside from the Caloocan property, Araneta also consolidates additional properties in San Jose Del Monte, Bulacan under the listed entity.
Heck, I wouldn't be surprised if magkakaroon din ng smaller version ng Araneta Coliseum sa area na yan. Considering the Araneta's ties with MW, there's a possibility thelatter will develop selected portions of the property. 😅
It's complicatedAno ba history ng Pangarap Village, was it just settled illegally, made into a "relocation site", both, none of the above, or "it's complicated".