Know More about the Controversial Boracay Mansion
The once famous Boracay Mansion will be the future office of Vice President Leni Robredo after her team decided not to hold office in “The Coconut Palace,” the usual office of the Vice President like the outgoing VP Binay who used the property as Office of the Vice President of the Republic of the Philippines.
The controversial Boracay Mansion was allegedly owned by Jose Velarde, the sprawling 7,145-square-meter property at No. 100, 10th and 11th Streets in New Manila, Quezon City was reportedly owned by the former President Joseph Estrada. The mansion once boasted a swimming pool equipped with machines producing waves and also featured with white sands from Boracay Island.
The Boracay Mansion reportedly once the residence of Erap Estrada’s mistress, one-time starlet Laarni Enriquez, with whom he has three children.
Though a 2007 valuation report had put its value at P142.9 million, the property could be worth up to P280 million as of 2010, with neighboring lots commanding prices of between P30,000 and P40,000 per square meter. The estimate just refers to the lot since the remaining structure is no longer what it once was: The valuation report described the mansion as now “totally damaged, vandalized and not anymore liveable.”
Based upon the information gathered by Inquirer, the property was found to be registered under St. Peter’s Holdings Corp., which bought it on Oct. 1, 1999. The company was owned by businessman Jose Yulo, who claimed that the real owner was Estrada’s friend Jaime Dichaves. Estrada himself insisted it was Dichaves’ property and that he only borrowed it for a time.
According to the transition team of Rep. Leni Robredo the Boracay Mansion will served as the official office of the Vice President. The upcoming inauguration of the outgoing Camarines Sur Representative who will sworn into office as Vice President will be held at the Boracay Mansion.