The Philippine National Bank (PNB) is selling off various land plots in and around Metro Manila. The bank hopes to raise more than PHP17 billion with many developers expected to submit bids. This is the second major land disposal for PNB which sold Manila North Harbor for PHP3.68 billion a few months earlier.
Among the most sought after lands up for sale is a 20,854 square meter commercial site and residential plots in Asiaworld City. The properties have a combined value of just under PHP10 billion. The area is anchored by the Parañaque Integrated Terminal Exchange which could make it attractive to prospective buyers.
PhilStar Global reported that additional plots put up for sale by PNB include a PHP1.93 billion site in Batangas; commercial lands along the National Highway and MacArthur Highway; and multiple plots in Las Piñas City. Bidding is expected to conclude this week.
NAIA land could be sold for a mixed-use project
Talks about the potential closure of Ninoy Aquino International Airport (NAIA) are in the spotlight once more after Finance Secretary Carlos Dominguez III noted that selling the land it sits on could allow the government to pay down debts racked up during the COVID-19 pandemic.
Nothing is imminent and the future of NAIA hinges upon the integration of New Manila International Airport in Bulacan and Clark International Airport into the National Capital Region. The former is currently under construction while the latter has undergone an expansion and is being connected to Metro Manila through the North-South railway.
“We had thought about that since 2016. But we have to see first how the development of the alternative [airports] to NAIA is developing,” Dominguez said. “Clark’s airport, for instance, was already too far from Metro Manila. You have to tie it up also with the development of the North-South railway connecting central and southern Luzon.”