In a significant financial maneuver, the Philippine government has sold 24 condominium units and 21 parking spaces in the Atrium of Makati for P1 billion. This sale, announced by the Department of Finance (DOF) on July 16, 2026, marks a successful step in monetizing underutilized government properties.
Maximizing State Assets
The buyer, Sanpiro Realty Development Corporation, acquired the units in a deal that reflects the government's ongoing efforts to generate revenue from idle assets. Finance Secretary Frederick Go emphasized the importance of such transactions, stating, "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."
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.
Frederick Go, Finance Secretary
The Atrium, a notable structure built in the 1980s, is situated next to Ayala Triangle Gardens, surrounded by modern skyscrapers. Its sale has contributed to the Privatization and Management Office (PMO)'s total collections of P1.87 billion for the first half of 2026, matching the total for all of 2025 and exceeding the full-year target for 2026.
Future Plans for Government Properties
The transaction coincides with new guidelines approved by the Privatization Council, allowing for more flexible property disposal methods, including unsolicited offers. Chief Privatization Officer Michael Peter Alejandro indicated that the government aims to leverage this recent sale to further divest other properties in the pipeline.
- Sale generates P1 billion for government
- Total PMO collections reach P1.87 billion in H1 2026
- New guidelines for property disposal approved