PCGG to auction off prime real estate properties worth P138 million
07/13/2011The Presidential Commission on Good Government (PCGG) yesterday announced it would auction off two prime real estate properties in Manila and Baguio.
According to a statement from the agency, the two surrendered properties to be disposed include a prime property in Mandaluyong City consisting of 2,012 square meters of commercial land with a minimum floor price of P101.606 million and the 3,875.57-square meter Hans Menzi compound in Baguio City with a minimum floor price of P37.246 million. Total value for the two properties is P138.852 million.
PCGG Commissioner for Asset Management Richard Roger Amurao said the commission’s decision to dispose the two prime properties is in line with the agency’s privatization program schedule crafted under the new commission headed by Chairman Andres Bautista.
Amurao said the PCGG’s decision to sell the recovered properties has been cleared by the Government’s Privatization Council as contained in its letter to the PCGG on June 22, 2011 approving its proposal to sell the real estate properties through sealed public bidding..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/metro/20110713met2.html
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