AFTER SUCCESSFULLY disposing state-owned properties at the Atrium of Makati–which includes 24 condo units and 21 parking slots for a meager P1.billion to Sanpiro Realty Development of the Yabut family of Makati–the government is now packaging the sale of three more assets apparently to raise funds for priority projects but more importantly to settle a portion of its current debt stock of P18 trillion.
Among the properties being packaged for sale at the Food Terminal Inc., the Mile Long Properties in Makati and its stake in the South Luzon Expressway (SLEX), Business World reported yesterday.
The Privatization and Management Office headed by Michael Peter A. Alejandro said “the successful sale of our Atrium of Makati units reflects the PMO’s continued efforts to bring idle government assets to the market through well-planned and competitive transactions.”
“We will build on this momentum as we pursue other properties for disposition in the pipeline,” he added.
The transaction raised the PMO’s collections to P1.87 billion in the first half, matching its full-year collections in 2025. It also exceeded this year’s P753.64-million target under the 2026 Budget of Expenditures and Sources of Financing by nearly 150%.
PMO is targeting to sell three more major assets before yearend, including the FTI property currently estimated at about P20 billion and the Mile Long property worth P10 billion.
The government is also preparing to dispose of its stake in South Luzon Expressway (SLEX), although its valuation is still being finalized.
Alejandro said the estimates remain preliminary because these assets have yet to undergo appraisal. The minimum bid price will also have to be approved by the Privatization Council before they can be auctioned.
“Those are rough estimates and that is based on zonal (value), roughly. As far as right now, that is kind of the valuation just to give an estimate. But again, it depends on the market,” he added.
Alejandro said that the government still has a long list of assets that it plans to dispose of, with prioritization given to bigger assets.
“But I think, what is important for PMO now is to prioritize the ones that are really idle and that would really spur economic activity,” he added.
“We are hoping for the end of the third quarter for Mile Long, and then the fourth quarter for FTI. Those are our targets, hopefully, we are able to sell it,” he said.
For SLEX, Alejandro said the auction could be held in the early part of the fourth quarter.
The planned sale of the FTI and Mile Long properties, together with the government’s shares in SLEX, would be key to achieving the P101-billion privatization revenue target this year.
“That is our target, so we are endeavoring to hit that P101 billion. But obviously, a lot of things have to happen,” he said.
He explained that the revised guidelines issued by the Privatization Council last year have helped spur interest in public assets.
“We have actually been getting a lot of unsolicited offers from the private sector, which is good, since there is interest. I think that is one very positive thing, we are getting the market to actually initiate some of these offers,” he said.
Despite priority given to the bigger assets, the smaller transactions would also help the government achieve its privatization revenue target, Alejandro noted.
“They do add up… The value of these transactions does not matter, we just have to make sure that it is fair for the government so that we can reach our target,” he added.
The revised guidelines, issued in March 2025, allow the government to entertain unsolicited offers from the private sector, adopt alternative modes of disposition, and accredit brokers for privatization transactions.