SSS plans to sell P10-B worth of properties - report


Posted at Aug 29 2014 11:21 AM | Updated as of Aug 29 2014 07:21 PM

MANILA, Philippines - The Social Security System is planning to sell around P10 billion worth of properties, Bloomberg reported.

Bloomberg quoted SSS president Emilio de Quiros as saying the state pension fund may be selling three prime real estate lots in Metro Manila.

"We’re very serious in terms of looking at and trying to
see whether we can unload them," he said.

SSS is looking at selling buildings in Makati and Quezon City, as well as a property in Fort Bonifacio, amid a rise in land prices in Metro Manila.

De Quiros said SSS has about P18 billion of real estate assets, representing 4.6 percent of its total investment portfolio.