VP Noli declares net worth of P51.3 M

Vice President Noli de Castro has declared a net worth of P51.3 million in his statement of assets and liabilities for 2004.

De Castro, concurrent chairman of the Housing and Urban Development Coordinating Council (HUDCC), acquired almost all his assets — totaling P51,323,087.25 — during his stint as a television and radio news anchor at ABS-CBN Broadcasting Corp.

In his financial statement, which was submitted to the Office of the Ombudsman and Malacañang, De Castro’s real properties amounted to P29,442,311.25.

His personal and other properties amounted to P26,380,776 while his liabilities stood at P4.5 million.

His properties include his residence in Tandang Sora, Quezon City, which he and wife Arlene bought in 1991.

He also has properties in Novaliches, Antipolo City in Rizal and Quezon City, all purchased between 1990 and 1997.

De Castro also bought land in his Oriental Mindoro home province, Bulacan and Batangas, purchased in 1995, 1996 and 1998.

His other personal properties include a Mercedes-Benz E240, a Chevrolet Suburban and a Ford Expedition SUV, shares of stocks in ABS-CBN and cash in banks.

De Castro’s business, interests and financial connections are with ABS-CBN and Bayan Productions Co., Inc., which produces the weekly television program "Magandang Gabi Bayan," aired over ABS-CBN.

His P4.5 million in liabilities are mostly loans from non-financial institutions.

Meanwhile, De Castro renewed his call for more private sector participation in the Arroyo administration’s housing program.

Around two million of the five million low-cost housing units the government plans to build by 2010 have been constructed, De Castro said. Private developers and banks "would greatly help bridge the gap by being more active in the housing industry."

"The national housing program entails a huge task and the government simply cannot do it alone. The private sector has contributed a lot in our pursuit to put up shelters and I hope it can contribute more," he said in a speech during a ceremony in Imus, Cavite, where he awarded certificates to government housing loan borrowers.