Philippine Government Sells Atrium of Makati Units for P1 Billion

The Philippine government completed the sale of 24 condominium units and 21 parking spaces in the Atrium of Makati building for P1 billion on Thursday, July 16, according to the Department of Finance (DOF). The buyer, Sanpiro Realty Development Corporation, acquired the properties as part of the government's effort to convert idle assets into cash for public spending. Finance Secretary Frederick Go stated the transaction demonstrates the government's commitment to turn underutilized properties into revenues that strengthen capacity to fund priority programs and support long-term national development. The sale is part of the government's broader privatization program managed by the Privatization and Management Office (PMO), which has collected P1.87 billion during the first half of 2026.

PMO Collections Reach P1.87 Billion in First Half of 2026

The Atrium transaction pushed PMO collections to P1.87 billion during the first half of 2026, according to the DOF. That amount matched the office's collections for the whole of 2025 and was approximately two and a half times its full-year 2026 target. The DOF announced the sale completion on Thursday, July 16.

Atrium of Makati Built in 1980s with Brutalist Design

Built in the 1980s, the Atrium of Makati is a low-rise office building located on Makati Avenue facing Ayala Triangle Gardens. The building features a Brutalist architectural style distinguished by its heavy concrete exterior and deep horizontal window bands. It sits beside the Zuellig Building and across from Ayala Triangle, near the intersection of Makati Avenue and Paseo de Roxas.

Privatization Council Approves New Property Disposal Guidelines

The Privatization Council recently approved new guidelines that allow additional methods of disposing state property, including the acceptance of unsolicited offers. Chief Privatization Officer Michael Peter Alejandro stated the government plans to pursue other properties for disposition in the pipeline.

FAQ

What did the Philippine government sell on July 16?

The Philippine government sold 24 condominium units and 21 parking spaces in the Atrium of Makati building to Sanpiro Realty Development Corporation for P1 billion on Thursday, July 16.

Why did the government sell the Atrium of Makati units?

Finance Secretary Frederick Go stated the sale was part of the government's effort to convert properties that were no longer being fully used into cash for public spending, demonstrating commitment to turn idle government assets into revenues that strengthen capacity to fund priority programs and support long-term national development.

How much has the Privatization and Management Office collected in 2026?

The PMO collected P1.87 billion during the first half of 2026, which matched the office's collections for the whole of 2025 and was about two and a half times its full-year 2026 target.