Tenants of Prieto-owned Sunvar Realty start their pull-out after eviction notice from the Solicitor General pic.twitter.com/5N1AwVedBA

— Adrian Ayalin (@adrianayalin) August 16, 2017

MANILA - Sunvar Realty Development Corp. said Wednesday it would vacate the Mile Long commercial strip in the Makati financial district as ordered by a local court.

The Solicitor General had accused Sunvar, owned by the Prieto and Rufino families, of being "squatters" and owing the government P1.66-billion.

The family also owns the Philippine Daily Inquirer, which it will sell to tycoon Ramon Ang following repeated criticism from President Rodrigo Duterte.

The company said it appealed the court's decision and would abide by legal process.

"In accordance with that commitment, Sunvar will comply and vacate Mile Long," the firm said.

Solicitor General Jose Calida and court sheriff Robert Bautista on Tuesday served the notice to vacate to the firm, wherein Sunvar was given 3 days to comply.

• Makati RTC orders Sunvar, tenants to vacate Mile Long property

The firm occupied the government property in February 1982 on a lease agreement that expired in 2002.

Sunvar said it paid P16.8 million as advance rentals to develop the property with the understanding that the lease period would expire in 2027.

"It (Sunvar) has pursued legal remedies to resist ejectment firmly believing there is a binding contractual commitment on the part of the government to honor a lease that is set to expire only in 2027. Sunvar understands that the government has taken the opposite view," it said.

The company also appealed on behalf of its tenants for more time to vacate the property saying the 3-day grace period was not enough.

• Calida presses gov't takeover of Mile Long