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Multi-Realty Development Corp. vs. The Makati Tuscany Condominium Corporation

MULTI-REALTY DEVELOPMENT CORPORATION, Petitioner, versus THE MAKATI TUSCANY CONDOMINIUM CORPORATION, Respondent.

G.R. No. 146726 | 2006-06-16

FIRST DIVISION
D E C I S I O N
 
CALLEJO, SR., J.
 
Before this Court is a petition for review on certiorari of the Decision [1] of the Court of Appeals in CA-G.R. CV No. 44696 dismissing the appeal of Multi-Realty Development Corporation on the ground of prescription. 
 
Multi-Realty is a domestic corporation engaged in the real estate business, and the construction and development of condominiums. It developed, among others, the Ritz Towers Condominium, and the former Galeria de Magallanes, both built in the Municipality (now city) of Makati. 
 
In the 1970s, Multi-Realty constructed a 26-storey condominium at...