Marcos returns Mile-Long property to PMO for disposition

President Ferdinand Marcos Jr. has returned the administration and management of the government-owned Mile-Long property in Makati City to the Privatization and Management Office to facilitate its disposition.

Marcos signed Administrative Order No. 50 on 30 September, reverting control of the 22,924-square-meter property from the Bases Conversion and Development Authority to the PMO.

The property, located in the Makati central business district, is registered under the name of the national government and originally belonged to the National Power Corp.

It was previously leased and occupied by Sunvar Realty Development Corp., a real estate company linked to the Rufino and Prieto families.

Sunvar vacated the property in August 2017 following a long-running legal dispute with the government.

The property was later transferred to the BCDA under Administrative Order No. 21 issued in 2020 during the administration of then-President Rodrigo Duterte.

Under AO 50, the administration and management of the property will again be handled by the PMO.

The order said the move was intended to optimize the use of government assets, strengthen fiscal space and support priority development programs.

The Department of Finance recommended the reversion as part of efforts to maximize the value of public assets.

Before disposing of the property, the PMO must secure the approval of the Privatization Council.

The Department of Budget and Management was also directed to study and propose measures to ensure that proceeds from the disposition would be used for priority government programs, subject to the budget process and applicable laws.

The order takes effect immediately upon publication in the Official Gazette or a newspaper of general circulation.