Posted June 23rd, 2012 by Florante S.
Solmerin
[ manilastandardtoday.com ]
The Presidential Commission on Good
Government said Friday it obtained the go-signal from the Privatization Council
to auction two more surrendered properties owned by the family of the late
dictator Ferdinand Marcos in Baguio City.
PCGG chairman Andres Bautista said the
agency would dispose of the 17,516.20-square meter J. Y. Campos complex and the
2,677-sq. m. Baguio Inn compound along Outlook Drive North in Baguio City in
August this year for a minimum bid price of P152.691 million and P7.496
million, respectively.
Bautista expressed confidence the PCGG
would successfully bid out the properties.
“With the successful public auction in
April 2012 of the Hanz Menzi compound also located in Outlook Drive North in
Baguio City, which fetched more than P93 million or a premium of about P56
million from its minimum bid price of only P37 million, I have no doubt that
the subject properties the PCGG will dispose will command the same level of
interest from potential bidders,” Bautista said.
“The two properties are considered as
good investment opportunities owing to their proximity to the Wright Park and
Mines View Park, two of the favorite tourist destinations in Baguio City. The
PCGG is very optimistic that once the Tarlac-Pangasinan–La Union Expressway
begins its operation, Baguio City will reclaim its position as the tourist
capital of the Philippines,” he said.
The law requires PCGG to remit all
proceeds from privatization to the government’s Comprehensive Agrarian Reform
Program.
Meanwhile, PCGG Commissioner for the
asset management department Richard Amurao, concurrently chairman of the bids
and awards committee, said the agency would endorse the results of the auction
to Privatization Council, which is headed by the Finance Department, for final
approval.
The PCGG said it had remitted
privatization proceeds of P93.421 billion to the national government as of
December 2011.
The J.Y. Campos and the Banaue Inn
compounds are among the assets and properties ceded to the government in 1986
by Marcos crony Jose Yao Campos. Another property surrendered by J.Y. Campos is
the 18.5-hectare Payanig sa Pasig property, considered the crown jewel among
the assets turned over to the government. The PCGG also plans to privatize the
property within the year.
(Published in the Manila Standard
Today newspaper on /2012/June/23)
_______________________________________________________________
