Philippine government sells 24 Makati condo units and 21 parking spaces to private firm for P1 billion

The Philippine government completed the sale of 24 condominium units and 21 parking spaces in the Atrium of Makati for P1 billion on July 16, 2026, Rappler reported. The buyer was Sanpiro Realty Development Corporation. Finance Secretary Frederick Go said the transaction formed part of efforts to convert underused state properties into cash for public spending.

“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,” Go said. The sale lifted collections by the Privatization and Management Office to P1.87 billion for the first half of 2026.

That figure matched the office’s full-year total for 2025 and reached about two and a half times its full-year target for 2026, according to the Department of Finance.

The Atrium of Makati, built in the 1980s along Makati Avenue facing Ayala Triangle Gardens, features a Brutalist concrete exterior with deep horizontal window bands. The Privatization Council recently approved new guidelines that permit additional disposal methods, including acceptance of unsolicited offers.

Chief Privatization Officer Michael Peter Alejandro said the office would pursue further properties.

“We will build on this momentum as we pursue other properties for disposition in the pipeline,” Alejandro said.