Manila: The government raised PHP1 billion from the sale of its property in Atrium and can generate as much as PHP30 billion more this year from the sale of three idle assets, the Department of Finance's (DOF) Privatization Management Office (PMO) said.

According to Philippines News Agency, the PMO on Thursday completed the PHP1 billion sale of government-owned units at the Atrium of Makati, as part of government measures to generate additional resources for national development. The contract signing held at the DOF office in Manila, was led by Finance Undersecretary and Chief Privatization Officer Michael Peter Alejandro and Sanpiro Realty Development Corporation President James Roy Villareal.

"This is really a great opportunity for us. Sanpiro, as the master developer, holds several units already and a certain percentage of the building. So naturally, since the asset is now up for sale by the government, it is an opportunity for us and part of our long-term strategy to consolidate the ownership," Villareal said.

The transaction, which covers 24 condominium units and 21 parking slots, propelled the PMO's total collections to PHP1.87 billion in the first half of the year, matching its total collections for 2025 and surpassing the 2026 collection target by 150 percent. "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," Alejandro said.

Aside from the Atrium of Makati property, the government is also targeting to sell the Mile Long Complex, Food Terminal Inc. (FTI), and its shares in the South Luzon Expressway Corporation. "In the pipeline, we're still planning for Mile Long, FTI. Those are the flagship assets that we plan to privatize by the end of the year," said Alejandro.

Alejandro said the government can generate roughly PHP10 billion from the sale of the Mile Long Complex in the third quarter of the year and another PHP20 billion for the FTI sale before year-end. "So those aren't set yet, we'll get the Privatization Council to set minimum prices. We're getting appraisals pa for the properties to be fair, and then most likely we plan to auction them off. And that's kind of, that's based on zonal, so as far as right now, that's kind of the valuation, just to give an estimate. But again, it depends on the market," he said.

To further accelerate the government's privatization program and enhance transparency, the Privatization Council recently approved updated privatization guidelines that expand the available modes of asset disposition, including the acceptance of unsolicited offers, providing greater flexibility in the disposition of government assets. The PMO serves as the marketing arm of the government with respect to transferred assets, government corporations and other properties assigned to it by the Privatization Council for disposition.