MANILA, Philippines – The government reportedly sequestered the P157.7
million of seized properties from Marcos’ from the estate of the late National
Bureau of Investigation (NBI) director Jolly Bugarin have been completely sold.
The properties comprised of a house and lot measuring 727 square
meters in North Greenhills, San Juan; a 721-square meter property in Valle
Verde III in Pasig; and a 582-square meter lot in Capitol Hills, Diliman Quezon
City.
The combined winning bids of P157.7 million for the three
properties was 38 percent more than the combined minimum bid price of P114.3
million set by the inter-agency Asset Privatization Council, Presidential
Commission on Good Government (PCGG) Chairman Andres Bautista said.
He said that “we (PCGG) cannot yet disclose the identities of the
winning bidders because the PCGG will still need to endorse the results of the
bidding process, including our recommendation to the Privatization Council. Once
approved by the council, then we will make an official announcement.”
He also said the auction for the properties drawn a total of 29
bidders.
The North Greenhills property with a floor price of P60.743 million
was sold for P83.126 million while the property in Valle Verde with a floor
price of P45.471 million fetched P64.024 million, and the Capitol Hills lot had
a floor price of P8.148 million but was sold for P10.551 million.
According to Bautista, proceeds
of the auction will be used for the government’s Comprehensive Agrarian Reform
Program.
