VP Binay as mayor personally benefited from overpriced building, his vice mayor reveals

Ernesto Mercado, Vice Mayor of Former Makati Mayor now Vice President Jejomar Binay, admitted he personally benefited in the construction of PhP 2.7 billion Makati City Hall 2.

Former Makati Vice Mayor Ernesto Mercado revealed before Senate Blue Ribbon committee that he received kickbacks from the phase 1 and 2 of the allegedly overpriced building. He added that if he himself benefited from the contract how much more his Mayor, now VP Binay, who is signing all the construction documents.

Mercado was surprised when he knew that the 11-story parking building costs Php 2.7 billion, he added the building was estimated at PhP 1.2 billion.

Mercado is an ally of Binay until 2010 when he faced Junjun Binay in Makati’s mayoralty race. He clarified that his revelation is not politically motivated. He added conflicting principle is the main reason why his alliance with the Binays ended.

Mercado was promised to take over Makati city after Vice President Binay’s term as mayor in Makati.

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