Philippine government raises PhP1 billion from Makati property sale
The Philippine government raised PhP1 billion from the sale of 24 state-owned condominium units and 21 parking slots at the Atrium of Makati, the Department of Finance said on Tuesday.
Source: Philippines Department of Finance · July 23, 2026 at 11:07 PM · AI-assisted report
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KUALA LUMPUR, 24 JULY 2026 —
KUALA LUMPUR, July 24 — The Philippine government raised PhP1 billion from the sale of 24 state-owned condominium units and 21 parking slots at the Atrium of Makati, the Department of Finance said on Tuesday.
Market Impact
The transaction, conducted by the Privatization and Management Office (PMO), brings the agency’s total collections to PhP1.87 billion in the first half of 2026, matching its full-year 2025 target and exceeding its 2026 goal by nearly 150%.
Finance Secretary and Privatization Council Chair Frederick D. Go said the sale underscores the government’s efforts to monetize idle assets to fund priority programs and support national development.
Chief Privatization Officer Michael Peter A. Alejandro highlighted the PMO’s strategy to maximize asset value through competitive transactions, adding that updated privatization guidelines—recently approved by the Privatization Council—will further accelerate asset disposition and enhance transparency.
The reforms introduce new modes of asset disposal, including unsolicited offers, to streamline the privatization process and strengthen non-tax revenue generation.
The sale aligns with the government’s broader push to unlock value from underutilized properties while supporting long-term economic growth.