Philippines Gov't Raises P1 Billion from Makati Property Sale, Bolstering National Treasury
The Philippine Department of Finance has sold 24 condominium units and 21 parking slots at the Atrium of Makati to Sanpiro Realty Development Corp. for P1 billion. This move converts idle state assets into development funds, significantly exceeding the government's annual revenue targets.
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The Philippine government has sold 24 condominium units and 21 parking spaces in the long-idle Atrium of Makati building for P1 billion. The proceeds will be used to fund public projects, demonstrating a move to monetize underutilized state assets.