The government has raised P1 billion from the sale of state-owned condominium units and parking slots in Makati, giving a fresh boost to its privatization program as it looks to unlock more value from idle assets and generate additional non-tax revenues.
The Department of Finance (DOF), through the Privatization and Management Office (PMO), completed the sale of 24 condominium units and 21 parking slots at the Atrium of Makati.
The transaction pushed PMO collections to P1.87 billion in the first half of 2026, matching the agency’s entire 2025 haul and surpassing its full-year 2026 target by nearly 150 percent, underscoring the government’s growing success in monetizing underutilized properties.
Finance Secretary and Privatization Council Chair Frederick D. Go said the sale demonstrates how dormant government assets can be converted into funding for national 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.
Chief Privatization Officer Michael Peter Alejandro said the strong outcome reflects the PMO’s strategy of maximizing the value of government properties through competitive and carefully structured transactions.
“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.
The sale comes as the government steps up its privatization drive to broaden revenue sources without imposing new taxes. The Privatization Council has approved updated guidelines that expand the modes of disposition, including allowing unsolicited offers, a move expected to accelerate the sale of state-owned assets that have long remained underutilized.
If sustained, the strategy could provide a steady stream of non-tax revenues while improving the efficiency of the government’s property portfolio. Beyond raising funds, the initiative aims to put idle assets into productive private-sector use, supporting investment, economic activity, and financing for priority public programs.
