The property was originally leased to the Prieto firm in 1980 and 1983, allegedly at a scandalously low rental by the Technology Resource Center Foundation, controlled at the time by Imelda Marcos. The lease expired in 2002, although the Prietos continued to control the property as if nothing happened, and refused to vacate it.
If you think that P1.8 billion figure is unbelievably huge, consider the following. The Rufino/Prieto firm continued to control the 29,000-square meter prime commercial property in Makati (between Amorsolo and Chino Roces Avenue, valued now at about P6 billion) and collected rentals from the over 400 stores there for 14 years, after its lease expired in 2002. That P1.8 billion amount translates to a measly rent of P360 per square meter per month government is asking Sunvar to pay—a give-away price in a prime area where rents are at least P50,000 per sq. m. per month.
Can you imagine anywhere else in the world where a rich family manages to control a government-owned urban prime property, and sublease it to businesses, even if its lease had ended 14 years ago? What a country ruled by oligarchs! Or perhaps as I pointed out in my previous column: such is the power of media in the Philippines.