President Ferdinand Marcos Jr. has ordered the return of the government-owned Mile Long property in Makati City to the Privatization and Management Office (PMO), paving the way for the immediate preparation of a plan to dispose of the prime real estate asset.
Marcos signed Administrative Order No. 50 on Sept. 30, reverting administration and management of the 22,924-square-meter property from the Bases Conversion and Development Authority (BCDA) to the PMO. The property is located in Makati’s central business district and remains registered under the National Government.
Under the new order, the PMO is directed to undertake the expeditious disposition of the property, including the preparation and implementation of a privatization plan. Any eventual sale or other form of disposition must comply with existing laws and regulations and secure approval from the Privatization Council.
The Department of Finance recommended the transfer back to the PMO as part of the government’s effort to make better use of state-owned assets, strengthen fiscal space and generate resources that can support priority development programs.
The Department of Budget and Management was also instructed to study and recommend how proceeds from the property’s eventual disposition could be used to fund priority government programs. Any use of the proceeds would remain subject to the national budget process and applicable laws and regulations.
The latest order reverses the arrangement established in 2020, when then-President Rodrigo Duterte issued Administrative Order No. 21 placing the Mile Long property under the administration, management and redevelopment of the BCDA through an agreement with the PMO. That order envisioned redevelopment before the property’s eventual disposition.
The 2020 order also created a technical working group involving the Department of Finance, Department of Budget and Management, Bureau of the Treasury, PMO and BCDA to study and formulate a redevelopment and privatization plan for the property.
The Mile Long property has a long history of government ownership and private occupation. It was previously leased and occupied by Sunvar Realty Development Corp. before the company vacated the site in 2017 following a prolonged legal dispute with the government.
With the issuance of AO No. 50, the BCDA is now required to coordinate with the PMO on the turnover of the property, including relevant documents and records. The PMO will then take responsibility for the next stages of the government’s disposition process.
The government has emphasized that the disposition should be conducted through a transparent and competitive process intended to secure the best possible value for the National Government. The property’s location in one of Metro Manila’s major commercial districts makes its eventual disposition a significant state-asset transaction.
The order takes effect upon publication in the Official Gazette or in a newspaper of general circulation. The actual timing and value of any future transaction will depend on the government’s valuation, privatization plan, required approvals and the disposal process ultimately adopted by the PMO.
For now, the government has not announced a final selling price or specific timetable for the property’s sale. The immediate step is the transfer of management back to the PMO and the preparation of the privatization process, subject to the required government approvals.
