Hmmm... I am not aware of such. :) Maybe you are referring to the Ayalas? As far as I know, reversion may only happen if the land is leased by the people who built properties on it. If the developers own the land and did not lease it from anyone then there is no reversion to the developers because the condo buyers own it already. Reversion mostly happens to commercial properties.

Usually residential condos will belong to the condo corporation, meaning the people who bought the property from the developer. It will not go back to the developer at all because it is owned by the people who bought the property. Each unit is titled and is registered to the owners.

I do have a part 2 as well. Have not been able to post it yet. Haha.