Privatization Update: Disposed Real Estate Assets

From 01 January 2019 to 31 December 2019, PSALM has disposed 166 lots from its Real Estate Assets (REA) portfolio either through public bidding, government-to-government transaction or option existence notice (OEN). The privatization of REAs raised a revenue of PHP1.47 billion. PSALM adopted asset disposal systems and a streamlined bidding process to widen its bidders base and attract investors to its real estate assets. Selected assets still pending privatization were entered into short-term lease agreements, a move netting PHP18.8 million for PSALM in 2019.

Location of Real Estate Assets No. of Lots Land Area
Winning Bidder Mode of Disposal Winning Bid Price (PHP) Turnover Date
Jasaan, Misamis Oriental 49 155,504 sq.m. Panasia Energy, Inc. Public Bidding PHP600,000,000.00 6 December 2019
Talavera and Calong-calong
in Toledo City, Cebu
21 129,589 sq.m. Panasia Energy, Inc. Public Bidding PHP250,000,000.00 6 December 2019
Barangay 21, P. Gomez St.,
Laoag City, Ilocos Norte
1 3,530 sq.m. Panasia Energy, Inc. Public Bidding PHP84,720,000.00 6 December 2019
Payocpoc Sur,
Bauang, La Union
92 261,349.32 sq.m. Provincial Government
of La Union
Government Transaction
PHP524,211,660.00 14 August 2019
Masinloc (land underlying
the Masinloc CFTPP)
2 12,522 sq.m. Barangay Bani,
Municipality of Masinloc,
Province of Zambales
Through OEN PHP15,652,500.00 22 November 2019
Naga, Bicol 1 193 sq.m. Mr. Eric Alfred Yu
Chang Cabral
Public Bidding PHP1,254,500.00 12 November 2019
Total 166 lots 526,275.32 sq.m.