Philippine boxing legend Manny Pacquiao paid over PHP230 million for the 1,538 sq. m. property in North Forbes, Makati City. At current prevailing exchange rate, that amount translates to some AUD 5,127,000.00. The property was bought from Lorenzo Tan, president of Rizal Commercial Banking Corporation who in turn bought it from Marcos’ era Deputy Trade Minister Edgardo Tordesillas in 2007.
The home originally had eight bedrooms, a sauna room and a wine room, in addition to a basement. It is also the only property in North Forbes that has a tennis court. Now under renovation, the new Pacquiao home will have fewer bedrooms to give space for more entertainment area and an office which the Pacman needs as a congressman.
Prior to the purchase, the going price in the neighbourhood was P120,000 per sq.m. but the boxer turned congressman made a jaw-dropping offer of P150,000 per sq.m., too much for the RCBC President to refuse.
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