Mindanao Times

Gov’t property nets P205.76-M income


THE GOVERNMENT is expected to earn a total of P205.76 million in rental and parking fees from the 2.2 hectare Mile Long property in Makati City from the time it took over its management in mid-2017 up to January this year.

A report to Finance Secretary Carlos Dominguez III by the Privatizat­ion Management

Office (PMO) showed that the government has so far collected P262.68 million from August 2017 to January 2020 from tenants occupying the Mile Long Property, and is expected to collect another P2.56 million in receivable­s.

This brings the actual and estimated total collection­s from the prime lot to P265.25 million as of Janand

uary 2020, said Chief Privatizat­ion Officer Gerard Chan of the Department of Finance (DOF)-attached PMO.

Deducting actual and estimated expenses amounting to P59.48 million nets an income of P205.76 million over the last 28 months that the PMO has been managing the property, Chan added.

Dominguez has commended the PMO at a recent DOF executive committee (Execom) meeting for efficientl­y managing the property, which is now almost 73 percent occupied as of January 2020.

This Mile Long property has a total of 312 rental units, of which 227 are occupied by 131 establishm­ents, and leaving 85 units available for occupancy.

Chan said 22 of these available units are reserved for the Supreme Court, which has signified its intention to house some of its offices in the Sunvar Plaza portion of the Mile Long lot.

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