{"id":153125,"date":"2018-02-15T22:49:21","date_gmt":"2018-02-16T03:49:21","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=153125"},"modified":"2018-02-15T22:49:21","modified_gmt":"2018-02-16T03:49:21","slug":"half-of-mile-long-property-to-be-sold-dof","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/02\/15\/half-of-mile-long-property-to-be-sold-dof\/","title":{"rendered":"Half of Mile Long property to be sold: DOF"},"content":{"rendered":"<figure id=\"attachment_150447\" aria-describedby=\"caption-attachment-150447\" style=\"width: 960px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/Philippine-flag.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-150447\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/Philippine-flag.jpg\" alt=\"The government plans to sell only half of the 2.9-hectare \u201cMile Long\u201d property in Makati City and develop the rest to gain more from the property. (Pixabay photo)\" width=\"960\" height=\"640\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/Philippine-flag.jpg 960w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/Philippine-flag-300x200.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/Philippine-flag-768x512.jpg 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><figcaption id=\"caption-attachment-150447\" class=\"wp-caption-text\">The government plans to sell only half of the 2.9-hectare \u201cMile Long\u201d property in Makati City and develop the rest to gain more from the property. (Pixabay photo)<\/figcaption><\/figure>\n<p>MANILA\u00a0&#8212; The government plans to sell only half of the 2.9-hectare \u201cMile Long\u201d property in Makati City and develop the rest to gain more from the property.<\/p>\n<p>The property was leased to Sunvar Realty Development Corp. of the Rufino-Prieto families, owner of the major daily Philippine Daily Inquirer (PDI), for 20 years starting February 1982. It should have been vacated as early as 2002 but the realty firm turned it over only last year.<\/p>\n<p>Earlier, the Makati Metropolitan Trial Court (MeTC) ordered the realty firm to vacate the property and pay the government rentals for the years it stayed beyond the lease agreement.<\/p>\n<p>Sunvar, however, said it made an advance payment of PHP16.8 million to develop the property with the understanding that the lease period would expire in 2027.<\/p>\n<p>Finance Secretary Carlos Dominguez III said the initial plan is to divide the property into three or four lots and sell only two of these.<\/p>\n<p>\u201cI just want to wait for the price to go up. Once the development starts there, prices will go up,\u201d he said.<\/p>\n<p>Valuation of the property is seen to be completed by March and the portion that would be sold would be offered starting middle of this year, Dominguez said.<\/p>\n<p>\u201cI told the President already I don\u2019t plan to sell the whole thing. I\u2019ll sell a portion of it,\u201d he said.<\/p>\n<p>\u201cI explained to him that once the development starts there, the prices will go up so why shouldn\u2019t we benefit from it anyway,\u201d he added.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0&#8212; The government plans to sell only half of the 2.9-hectare \u201cMile Long\u201d property in Makati City and develop the &hellip;<\/p>\n","protected":false},"author":33,"featured_media":150447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[13825,5992,46734,343],"class_list":["post-153125","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-carlos-dominguez-iii","tag-dof","tag-mile-long-property","tag-philippines","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/153125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=153125"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/153125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/150447"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=153125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=153125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=153125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}