A property developer has gifted amateur boxing standout Carlo Paalam a P3.6-million house and lot for his silver medal victory in the Tokyo Olympics.
VisMin Cebu Landmasters Inc. said Paalam will get a townhouse in its subdivision project Velmiro Uptown CDO, located in the prime Upper Canitoan Cagayan de Oro area.
Jose Soberano III, chairman and CEO of Cebu Landmasters Inc., said Cagayan de Oro’s adopted son from Talakag, Bukidnon is an inspiration to millions of Filipinos all over the world.
“We are very proud of Carlo’s achievement, and want to take part in uplifting his quality of life especially when it comes to housing. He deserves to live well, and we hope his family will enjoy their new home in our Velmiro Heights community in CDO. We look forward to welcoming him home” said Soberano in a statement.
Paalam took home a silver medal after losing to Great Britain's Galal Yafai on points in the men's flyweight finals at Kokugikan Arena in Tokyo.
Palaam, who used to pick junk in a sanitary landfill in Cagayan de Oro, stands to receive P17 million for his victory.
He is set to receive P5 million based on the National Athletes and Coaches Benefits and Incentives Act, apart from P5 million each from sports patrons Manny Pangilinan and Ramon Ang. Congressman Mikee Romero also pledged P2 million for Paalam.
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