BAGUIO CITY -- The Presidential Commission on
Good Government (PCGG) will auction off next month the 17,516-square-meter J.Y.
Campos compound here for P159.264 million.
The J.Y. Campos
compound is one of the properties surrendered to the government by known Marcos
crony Jose Campos in 1986.
The PCGG said the
property would be sold through a sealed public bidding on Dec. 4.
The minimum bid price
of P159.264 million was based on an appraisal conducted last May.
The PCGG said the
Privatization Council of the Department of Finance approved the sale of the
property.
The PCGG expressed
confidence that the increasing interest of private firms in the real estate
industry and the location of the Campos property would attract more bidders and
generate higher value.
In 2012, the
commission privatized a number of surrendered real estate properties, including
the Hanz Menzi property in Baguio City for P93 million; Banaue Inn Compound
also in Baguio City for P10 million; and the Wack-Wack property in Mandaluyong
City for P127 million.
In March, the agency
sold the Mapalad property in Parañaque City for P247 million.
As of June this year,
the commission has remitted a total of P87 billion to the National Treasury.
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