MANILA - President Rodrigo Duterte has ordered the Bases Conversion and Development Authority (BCDA) to redevelop the government’s Mile Long property in the central business district of Makati City to help fund the pension of state troops.
Duterte, through Administrative Order No. 21, tasked the BCDA to develop the 2-hectare property in partnership with the Privatization and Management Office (PMO), which manages the land.
“The development of the Mile Long property, considering its location in one of the country’s premiere business districts, will greatly contribute to the generation of revenues for priority programs of the government, including, among others, the pension program of military and uniformed personnel,” the President said in his order signed on Jan. 29 but made public only Thursday.
Funding for the development of the land may be charged against “appropriate funding sources” or through the different public-private partnerships allowed under the law according to the administrative order.
Duterte also ordered the formation of a technical working group on the Mile Long property to study and formulate a redevelopment and privatization plan for the land.
The technical working group will be composed of the Department of Finance, Department of Budget and Management, Bureau of Treasury, PMO, and the BCDA.
It can be recalled that in 2017, the President criticized the lease agreement for the Mile Long property to the Prieto and Rufino families' Sunvar Realty Development Corp., and accused the 2 families of illegally occupying the lot without due payment to the government.
The President had said that the property, if sold, could generate funds for the housing of troops.