The government plans to sell three more big-ticket businesses this year, including Food Terminal, Inc. (FTI) and Mile Long, said the Privatization and Management Office (PMO).
This is after the PMO on Thursday finalized the sale of government buildings in the Atrium of Makati. Sold 24 condominium units and 21 parking spaces at Atrium to Sanpiro Realty Development Corp. with an estimated P1 billion.
“The successful sale of our Atrium of Makati units demonstrates PMO's continued efforts to bring non-performing government assets to market through well-planned and competitive transactions,” said PMO Head Michael Peter A. Alejandro.
“We will build on this momentum as we pursue other properties to be used in the pipeline,” he added.
The transaction increased the PMO's collections to P1.87 billion in the first quarter, matching its collections for the full year 2025. It also exceeded this year's target of P753.64-million under the 2026 Expenditure and Funding Budget by almost 150%.
Mr. Alejandro said the agency is targeting the sale of three other major assets before the end of the year, including FTI's assets currently valued at P20 billion, and Mile Long's assets valued at approximately P10 billion.
The government is also preparing to divest its stake in the South Luzon Expressway (SLEX), although its valuation is still being finalized.
Mr. Alejandro said that the estimates are still important because these goods have not been tested. The minimum bid price must also be approved by the Private Exchange Council before it can be sold.
“Those are rough estimates and that's based on the zonal (value), roughly. So far, that's kind of a measure to give an estimate. But again, it depends on the market,” he added.
Mr. Alejandro said that the government has a long list of assets that it plans to eliminate, starting with large assets.
“But I think, what is important for the PMO now is to prioritize those that are not working and can really stimulate economic activity,” he added.
“We're hoping for the end of the third quarter for Mile Long, then the fourth quarter for FTI. Those are our goals, hopefully, we can sell it,” he said.
Regarding government shares in SLEX, Mr. Alejandro said the auction could be held at the beginning of the fourth quarter.
Mr. Alejandro said the planned sale of FTI and Mile Long properties, as well as the government's stake in SLEX, will be key to achieving the P101-billion target of private equity acquisitions this year.
“That's what we're aiming for, so we're trying to reach P101 billion. But obviously, there are a lot of things that need to happen,” he said.
Meanwhile, Mr. Alejandro said that the updated guidelines issued by the Privatization Council last year have helped stimulate interest in public property.
“Actually, we have been receiving many things that we could ask for from private companies, which is good because there is interest,” he said. “I think that's a great thing, we're getting the market to start some of these gifts.”
Apart from prioritizing large assets, he said small transactions will also help the government achieve its private equity fundraising goals.
“They are inclusive… The amount of these sales does not matter, we just have to ensure that there is justice in the government to achieve our goals,” he added.
The revised guidelines, issued in March 2025, allow the government to entertain unsolicited offers from private companies, use alternative methods of conduct, and approve brokers for private transactions. – Justine Irish D. Tabile
