This paper examines the land grab phenomenon in the Philippine context. It explores the different instances of ‘’land grabbing’’ in the Philippines and some of the documented cases and transactions involved. Through an analysis of the policy framework that enables and engenders this phenomenon, the report identifies the gaps and conflicts in law that must be resolved. Among the major risks identified are the reversal of the gains of the Land Reform Program and the slowing down of the Agrarian Reform Program by allowing large land owners to evade its implementation by leasing out land to corporations. Based on the analysis carried out in this study, a draft bill to regulate the large-scale acquisition of agricultural land by foreign investors is proposed by the authors.