In the Philippines, living in exclusive subdivisions such as Ayala Alabang, Dasmarinas Village and Forbes Park is synonymous with being rich. Now that pound-for-pound king Manny Pacquiao is said to have recently bought a house inside the posh Forbes Park, Pacman definitely has, in Filipino street parlance, arrived.
Last week, newspapers reported that Manny Pacquiao purchased a house worth P388 million ($9 million) inside Forbes Park, one of the most exclusive subdivisions in the country and home to various Filipino billionaires.
A picture of the house is shown below.
Manny Pacquiao’s $9 million house inside Forbes Park
The property, estimated to be 1,500 square meters in size, is located in Cambridge Street, North Forbes, Makati City and was previously owned by Roque Tordesillas, Senior Vice President of insurance brokerage firm Marsh Philippines.
Pacquiao will now be neighbors with other famous (and wealthy) Forbes Park residents Senator Loren Legarda, GMA 7 executive Felipe Gozon, businessman Tonyboy Cojuangco, and the ambassadors of the United States, Kuwait and Thailand.
Pacquiao can definitely afford the multi-million property. Despite the hefty price tag — that even an “average” Filipino millionaire cannot afford — the house’s value is just one-third of Pacquiao’s total networth of P1.13 billion ($26 million), based on his 2010 Statement of Assets, Liabilities and Networth (SALN).
The Forbes property is even more expensive than the Los Angeles, USA house that Pacquiao bought in 2009. The five-bedroom LA house, located in Plymouth Blvd. in Hancock Park, was bought by Pacquiao for “only” $2.16 million.
The good thing about Pacman’s recently purchased million-dollar home is that many of us saw how he worked hard to get this. Pacquiao literally paid for this Forbes house with blood and sweat. Hope we can say the same about some people who amassed riches using dubious schemes.
Manny Pacquiao’s LA house, as featured on MTV Cribs
Sources: Inquirer.net, GMANews.tv, MPBoxing.com, MTV Cribs