Gov’t raises P1 billion from Makati property assets sale

The Department of Finance (DoF), through the Privatization and Management Office (PMO), has generated P1 billion from the sale of government-owned condominium units and parking slots at the Atrium of Makati, boosting state revenues from asset privatization.

The transaction involved 24 condominium units and 21 parking slots and pushed PMO collections to P1.87 billion in the first half of 2026. The amount matches the agency’s total collections for all of 2025 and exceeds its full-year 2026 target by nearly 150 percent.

Unlocking value from underutilized state assets

Finance Secretary and Privatization Council chairman Frederick Go said the sale reflects the government’s efforts to unlock value from underutilized state assets and channel proceeds toward national development priorities.

“This sale demonstrates our commitment to turn idle government assets into revenues that strengthen our capacity to fund priority programs and support long-term national development,” Go said.

Bringing idle gov’t properties to market

Chief privatization officer Michael Peter Alejandro said the transaction highlights the PMO’s strategy of bringing idle government properties to market through competitive and carefully structured sales.

“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 said.

Following the sale, the government is expected to pursue additional asset dispositions as part of its broader privatization program.