The government plans to sell only half of the 2.9-hectare “Mile Long” property in Makati City and develop the rest to gain more from the property.
The property was leased to Sunvar Realty Development Corp. of the Rufino-Prieto families, owner of the major daily Philippine Daily Inquirer (PDI), for 20 years starting February 1982. It should have been vacated as early as 2002 but the realty firm turned it over only last year.
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