Properties worth around P18.2 billion sequestered from deposed President Ferdinand Marcos, some of which are in Metro Manila, have yet to be sold 27 years after People Power.
Among the properties are the office building that houses the Presidential Commission on Good Government, the agency created to look for Marcos’s ill-gotten wealth. The PCGG office building in Mandaluyong is estimated to be worth P129.8 million according to a Philippine Star report.
Also yet to be sold is the 184,891-square meter “Payanig” property in Pasig City and 11 other parcels of real estate with an estimated total worth of P14.6 billion. The Payanig sa Pasig property, valued at P13.8 billion, was surrendered to the government by a Marcos crony in 1986.
Aside from the land,the PCGG has also yet to dispose of “18 properties with shares of stocks worth P478.3 million; two media outlets with a total price of P3.07 billion; and Hawaii collections of former first lady now Ilocos Norte Rep. Imelda Marcos amounting to P112.5 million,” the report said.
PCGG Information Office chief Nick Suarez said on the report that the commission has already sold four sequestered real estate properties.
The sequestered properties are expected to be sold off by 2014. Proceeds from the sale of sequestered Marcos properties are supposed to help pay for the Comprehensive Agrarian Reform Program.
