THE government plans to sell the controversial Mile Long complex next year, in line with the Duterte administration’s aim to privatize more state assets, the Department of Finance (DoF) said.
“Mile Long—that is the new asset that we received which we should be privatizing by the middle of next year,” Finance Secretary Carlos Dominguez 3rd told reporters.
In June, the Court of Appeals favored the government in the dispute involving the 2.9-hectare prime property located in Makati City, which the Rufino-Prieto family, owner of the Philippine Daily Inquirer had leased since 1982.
Dominguez said Mile Long would have to go through various stages of valuation before being sold.
“There are several ways to do it and then we have to evaluate, right? Do we sell it as one chunk or separate chunks? I don’t really know yet what is the optimum for the government,” he said.
On August 18, tenants of the Rufino-Prieto family’s Sunvar Realty Development Corp. vacated their units at the Mile Long building, days after the Court of Appeals ordered a Makati City court to eject its occupants.
President Rodrigo Duterte had vowed to seize the Mile Long property, accusing the Rufino-Prieto family of obtaining a lease during the Marcos administration that was disadvantageous to the government.
The President said proceeds of the sale of the Mile Long complex would be used to fund housing projects for the poor.
The President had also accused the Rufino-Prieto family of tax evasion and their newspaper of being part of efforts to undermine his government.
Mile Long will just be one on the government assets that will be sold next year. Earlier, Dominguez said 17 casinos being operated by Philippine Amusement and Gaming. Corp. will be sold next year.