DOF explains LANDBANK renovation project

The renovation of what used to be the headquarters of the Land Bank of the Philippines (LANDBANK) in Makati is part of the infrastructure works being undertaken by the Department of Public Works and Highways (DPWH) which started in 2019, Finance Secretary Carlos G. Dominguez said in a statement.

“The structure, located along Sen Gil J. Puyat Avenue will be transformed into a “green” building to house the organic personnel of the Office of the President (OP). Building works started almost two years ago, before the COVID-19 pandemic hit not only the Philippines,” said the DOF chief.

Dominguez, who is also LANDBANK Chairman, pointed out that official documents show that the renovation project in the building has nothing to do with the institution of LANDBANK and its functions.

“The project was already included in the budget of the DPWH under the 2019 General Appropriations Act (GAA); this means that it was planned in 2018 or earlier,” he said

LANDBANK moved to its present main office at the LANDBANK Plaza in Malate, Manila 20 years ago after it transferred the ownership of its previous headquarters in Makati City to the National Government in 2011.

Dominguez issued the statement to disprove claims made by former Bayan Muna Rep. NeriColmenares during a recent House committee meeting that the renovation project on the former LANDBANK building that was included by the DOF in the proposed 2022 national budget was a “deplorable misuse of public funds” amid a pandemic-induced crisis.

“Mr. Colmenares is, as usual, totally wrong. The budget for the project was requested by Malacañang long before the pandemic, and has nothing to do with LANDBANK,” Dominguez said.

Documents show that the OP and the DPWH have been in communication regarding the LANDBANK “structural retrofitting” project on the former LANDBANK building since October 2019 as this was already included in the DPWH budget for that fiscal year under its “Regular Agency Fund, Continuing Appropriations, Republic Act 11260, FY 2019 General Appropriations Act, Contingent Fund.”

The Special Allotment Release Order (SARO) for the project was released by the Department of Budget and Management (DBM) in July 2020.