Duterte orders development of Mile Long property in Makati City
President Rodrigo Duterte has ordered the development of a two-hectare government-owned property located in the Makati City's premier district.
Administrative Order NO. 21, which Duterte signed on January 29, said the development of the Mile Long property, considering its location in one of the country's premier business district, will greatly contribute to the generation of revenues for priority programs of government, including, among others, the pension program of military and uniformed personnel.
Under the AO, the Privatization and Management Office, on behalf of the national government, shall enter into an appropriate contractual arrangement with another state-run Bases Conversion Development Authority to enable the latter "to administer, manage and redevelop Mile Long property prior to eventual disposition."
"The implementation of this provision may be charged against appropriate funding sources or undertaken through the various modes of public-private partnership allowed by law," the AO read.
Duterte directed the Department of Budget and Management to study, propose and/or take measures as may be appropriate so that the proceeds from the development of the property shall be used to fund the priority programs of the government, including the pension program of military and uniformed personnel, subject to the budgetary process and applicable laws, rules and regulations.
The President also created a Technical Working Group to study and formulate a redevelopment and privatization plan for the Mile Long property.
The TWG is composed of representatives from the Department of Finance, DBM, Bureau of Treasury, PMO, and BCDA.
Mile Long was previously leased by Sunvar Realty Development Corp. owned by the Rufino and Prieto families.
In 2017, Duterte ordered the government's takeover of the property for failure to generate revenue from SRDC. Celerina Monte/DMS