Carlo Paalam to receive P3.6-M townhouse in CDO from Cebu Landmasters

Boxer Carlo Paalam, who bagged the silver medal at the Olympic Games, is set to receive another P3.6-million house and lot after his historic win.

In a statement, property developer Cebu Landmasters Inc. (CLI) said it will gift Paalam a townhouse in its subdivision project Velmiro Uptown in Upper Canitoan in Cagayan de Oro.

“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,” CLI chairman and CEO Jose Soberano III said in an emailed statement.

Paalam put up a gallant stand at the final round of the men’s flyweight division on Saturday, but ultimately fell to Great Britain’s Galal Yafai.

“Cagayan de Oro’s adopted son from Talakag, Bukidnon, a scavenger turned Olympic silver medalist boxer, is an inspiration to millions of Filipinos all over the world,” CLI said.

Paalam is also set to receive at least P17 million in cash rewards, including P5 million mandated by Philippine law, P5 million from the MVP Sports Foundation, P5 million from business tycoon Ramon Ang, and P2 million from sports patron and Representative Mikee Romero.

Paalam will also get 60,000 Mabuhay Miles per year from flag carrier Philippine Airlines. This is equivalent to four roundtrip domestic flights or two roundtrip regional flights, or one roundtip flight to either Australia, the Middle East, or Honolulu. — Jon Viktor D. Cabuenas/BM, GMA News