Philippines Government Secures Over P1 Billion from Sale of Idle Makati Asset
The Philippine government has successfully sold its idle asset, the Atrium of Makati, for over P1 billion, as part of its accelerated efforts to boost privatization revenues. The Department of Finance is looking to dispose of other major government properties to sustain this momentum.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- Gov't Sells Idle Makati Property for P1 Billion to Fund Public Projects
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.
- 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.