The government intends to sell three additional major state assets before the end of the year, including the Food Terminal, Inc. (FTI) and Mile Long properties.
The plan follows the recent disposal of 24 condominium units and 21 parking slots at the Atrium of Makati for roughly P1 billion. The transaction was completed with a private realty firm.
The sale brings first-half collections to P1.87 billion, matching full-year proceeds from the prior year. The figure also exceeds the current annual target of P753.64 million by nearly 150 percent.
Officials confirmed that the FTI property carries a preliminary valuation of about P20 billion, while the Mile Long property is estimated at P10 billion. A separate disposition of the government stake in the South Luzon Expressway is also being prepared, though its valuation remains unfinished.
All estimates are considered preliminary and based on zonal valuations rather than formal appraisals. Minimum bid prices must still be approved by the Privatization Council before any auction proceeds.
The agency aims to conclude the Mile Long sale by the end of the third quarter and the FTI sale in the fourth quarter. The expressway stake could be offered in the early part of the fourth quarter.
These disposals are central to meeting a P101-billion privatization revenue target for the year. Officials acknowledged that multiple conditions must align to reach that goal.
Priority is being given to large, idle assets that can stimulate economic activity. A broader roster of government properties remains under review for future disposition.
Revised council guidelines issued last year have increased private sector engagement with public assets. The changes permit unsolicited offers, alternative disposition methods, and broker accreditation.
Officials reported a rise in unsolicited proposals from private entities following the rule changes. Smaller transactions are also viewed as meaningful contributors to the overall revenue target when executed at fair value.
