3 big-ticket assets up for privatization in ’26

The national government is eyeing the privatization of three big-ticket real estate assets this year, including the Food Terminal Inc. (FTI) Complex in Taguig City and the Mile Long Complex and Atrium in Makati City, according to the Privatization and Management Office (PMO).

A separate document last year showed that the 169.754-square-meter (sq m) FTI has an estimated value of P40.4 billion.

Meanwhile, the 22,924 sq m Mile Long Complex is valued at P12.26 billion and the 3,596.64 sq m Atrium is valued at P449.6 million.

In a Viber message, the PMO said the assets would help the government reach its target of raising P101 billion in privatization nontax revenues.

“Together with the privatization of (Caliraya-Botocan-Kalayaan (CBK) hydroelectric power), the privatization of these 3 assets and certain shares of stock, the NG is targeting Privatization Non-Tax Revenue of P101 billion,” the PMO said.

As of writing, however, the PMO said the Privatization Council had yet to approve the minimum prices for the assets.

Earlier, Finance Secretary Frederick Go said he had directed the PMO to reorganize the list of assets up for privatization based on what is the most “realistic” and “attractive.”

“There are many assets that the PMO is looking to privatize,” Go said on the sidelines of the banking community’s annual reception.

In another speech, Go also said the government was confident that the momentum in privatization and other public-private partnership projects would continue, citing the privatization of the Ninoy Aquino International Airport in 2024 as a key milestone.

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“Despite the distractions, and yes, there are many, this government means business and will continue to pursue the right reforms and programs despite the noise. And I can assure you that this momentum continues,” Go said in his speech addressing financial executives of the Philippines.

“The economic team is working very hard to make sure that this momentum continues. Several projects are available for public-private partnerships,” he added.

Proceeds from privatization form part of the government’s nontax revenue sources, alongside income from state-owned firms, fees and charges.

In total, the government is now targeting P349.9 billion in nontax revenues this year, an increase from the P249.1 billion originally set.