Philippines Gov't Raises P1 Billion from Makati Property Sale, Bolstering National Treasury

The Philippine government has officially disposed of state-owned properties at the Atrium of Makati for P1 billion, advancing its efforts to convert idle real estate assets into funds for national development. In a statement on Thursday, the Department of Finance (DOF) said the sale was carried out through its Privatization and Management Office (PMO). The transaction with Sanpiro Realty Development Corp. covered 24 condominium units and 21 parking slots. The sale also pushed the PMO beyond its full-year 2026 collection target. As of the first half of the year, the office had already generated P1.87 billion in total collections—nearly 150% of its annual target and matching its total collections for the whole of 2025. "This sale demonstrates our commitment to turning idle government assets into revenues that strengthen our capacity to fund priority programs and support long-term national development," Finance Secretary and Privatization Council (PrC) Chairman Frederick Go said. "We will build on this momentum as we pursue the disposition of other properties in the pipeline," Chief Privatization Officer (CPO) Michael Peter Alejandro added. To sustain this momentum and further improve transparency in the privatization process, the DOF said the Privatization Council recently approved updated privatization guidelines. According to the department, the revised rules expand the methods the government can use to sell or lease state-owned assets. Most notably, the new guidelines allow the government to accept unsolicited offers, providing greater flexibility in managing its asset portfolio. The DOF said the reforms are expected to accelerate the disposition of government assets, maximize the value of underutilized properties, increase non-tax revenues, and generate additional funding for priority programs. —VBL, GMA News