Idle government assets valued at over ₱600 million will be re-advertised for sale through negotiated sales, after receiving no bids or offers in early April.

The Privatization and Management Office (PMO), a Department of Finance (DOF)-attached agency, told Manila Bulletin on Friday, April 11, that all 51 properties it had eyed to sell earlier this month will now be disposed of through negotiated sales.

Previously, 34 public assets were advertised for negotiated sale, while the remaining 17 were offered through public auction.

“None submitted a bid for both public bidding and negotiated sale,” Chief Privatization Officer Maan Vanessa L. Doctor told Manila Bulletin.

Following the lack of offers, Doctor said the government “shall endeavor to advertise all of these as negotiated sales, where interested buyers can submit offers to purchase.”

In its latest offering, the PMO said it is selling, on an "as-is, where-is" basis, a 5,000-square meter (sqm) lot in Valenzuela City at a base price of ₱90 million.

It is also offering a 1,717,600-sqm property in Macabebe, Pampanga, at a minimum of ₱68.03 million; a 556.63-sqm lot in Las Piñas City for at least ₱12.66 million; and property in Canlubang, Laguna, at a base price of ₱6 million.

Previously advertised for public bidding, these four properties will now be sold through negotiated sale.

The new deadline to submit offers for the four idle assets is May 10.

For the 51 properties offered in April, Doctor said there are interested buyers who are aware of the assets’ prices, dismissing the possibility that the properties were considered too expensive.

Doctor instead pointed to “timing” as a major factor behind the lack of bids.

The assets and their prices will be re-published and made available for negotiated sale.

Doctor did not provide an answer when asked if she expects these lots to be sold in the second quarter of this year.

The DOF said earlier that it remains optimistic revenues from asset sales are on track to meet the government’s ambitious privatization target of over ₱101 billion for 2025.