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GSIS plans sale of 4 properties

By Bernadette Lunas | Posted on September 10, 2012 | 12:01am |

State-run Government Service Insurance System plans to sell four real estate properties this year and rebuild its office on a three-hectare lot in Quezon City.

GSIS president and general manager Robert Vergara said the state pension fund would bid out some of its properties in Metro Manila this year, including a P1.6-billion lot in Pasig City and the former jai alai property in Manila.

The Pasig property, at the corner of Doña Julia Vargas and Meralco Avenues in Ortigas Center, is an 18,498 square-meter lot with an appraised value of P1.6 billion as of mid-2010. It is currently used by the Metro Manila Development Authority as an impounding area.

Meanwhile, the 6,470-square meter former jai alai property on Taft Avenue in Manila has an appraised value of P300 million.

The fund manager also plans to sell the Polymedic Apartment 1 and Polymedic Apartment 2 in Mandaluyong City.

Vergara, however, said they may defer the sale of the 2,411-square meter Philcomcen Building in Ortigas Center and the 2,429-square meter GSIS office in Makati City.

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