Defense: P10-M discount on condo not unusual

MANILA, Philippines - There was nothing unusual about Chief Justice Renato Corona’s receiving P10-million discount for his purchase of a penthouse unit at the upscale Bellagio in Bonifacio Global City in Taguig, the chief magistrate’s lawyers said yesterday.

“It is not unusual to give discount, the standard is 15 to 20 percent,” defense panel spokesperson Karen Jimeno said.

Jimeno also noted that the unit purchased by Corona and his wife Cristina has “defective areas” which need to be rectified or repaired. Jimeno said the couple bought the condominium unit at the height of the financial crisis and “it would not be unusual (for the developer) to give 40 percent discount.”

During Corona’s impeachment trial, private prosecutor Joseph Joemer Perez said he received information from Megaworld finance director Giovanni Ng that Corona received a P10-million discount for the 300-square-meter Bellagio property, which was purchased for P14 million.

Ng said the sales and marketing department usually gives up to a 15 percent discount to clients who avail of shorter term payments for units.