The Power Sector Assets and Liabilities Management Corp. (PSALM) has launched the public bidding for its prime Diliman property, carrying a minimum bid price of P11.09 billion, as part of its ongoing asset sale program designed to settle outstanding government power sector debts.
Announced Wednesday, the state-run firm is selling two parcels of land covered by Title No. N-326294 spanning 51,948 square meters. Roughly 12,250 square meters are excluded from the transaction—including about 5,000 square meters reserved for PSALM’s own use and 7,250 square meters housing the Systems Operation and National Control Center facilities—leaving a net salable area of 39,698 square meters, along with all existing buildings, structures and improvements on the site, to be sold on an as-is, where-is basis.
The National Grid Corporation of the Philippines will retain use of the National Control Center and Systems Operation buildings for transmission operations through January 15, 2034, under an existing agreement.
Eligible bidders include qualified individuals, sole proprietorships, cooperatives, corporations, partnerships, joint ventures, consortia, government-owned entities, and local government units authorized to acquire and develop real estate in the Philippines. Private sector bidders must be at least 60 percent Filipino-owned.
The asset disposal forms a core part of PSALM’s mandate: privatizing government-held power-related assets to pay down obligations inherited from the National Power Corp. As of end-June 2026, these outstanding liabilities stood at P222.26 billion.
Beyond this Quezon City property, PSALM continues to manage key assets including the Agus and Pulangi hydroelectric complex in Mindanao. The facility has an installed capacity of 1,000 megawatts, though only around 600 MW is currently operational; the government is preparing a rehabilitation program to restore full output.
