Govt Earns PhP143M from Mile Long Lease
The government earned PhP142.6 million from the 2.2-hectare Mile Long property in Makati City since it took over the management of the state-owned prime real estate in August 2017, the Finance Department said Wednesday.
Gerard Chan, the chief privatization officer of the DoF-attached Privatization Management Office, said the government’s net earnings of PhP142 million in rental fees over a 21-month period for the Mile Long property represented an average profit of PhP6.7 million a month.