NDC eyes P6B from sale of 25 real estate properties

The National Development Co. (NDC) is planning to raise over P6 billion from the sale of at least 25 parcels of prime real estate in various locations nationwide.

"The government is trying to liquidate some 3.12 million square meters of prime real estate located in various locations nationwide," NDC general manager Ofelia V. Bulaong said yesterday.

According to Bulaong, most of the properties are either commercial, residential, industrial or agro-industrial.

One of the properties for sale is the 18-hectare former Goodyear factory in Las Piñas. Also for sale are seven parcels of real estate in various provinces in Luzon; five in the Visayas; and six agricultural and industrial lands in Mindanao.

"The timing is right to sell the various NDC properties," Bulaong said, adding that "the sale will attract investors who are on the lookout for prime locations to bolster their landbanking program and expansion plans."

"I am confident that our property portfolio will open investment possibilities that will help jumpstart business activities in the country," Bulaong said.

Bulaong said she is relying on the sharp business acumen of Filipino business leaders who can spot opportunities despite the current slump in the real estate market.

"The first 25 parcels of prime real estate properties will be offered under a marketing event called Property Series 2002," Bulaong said.

If the sale is successful, the NDC plans to dispose of other properties in another event.