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Manila Bulletin devider Business devider Banking & Finance devider DOF, Manila launch redevelopment of foreclosed hospital

DOF, Manila launch redevelopment of foreclosed hospital

Published Feb 24, 2026 04:06 pm
Finance Secretary Frederick D. Go witnessed the formal turnover of a historic Tondo landmark to the City of Manila on Tuesday. The agreement, signed by Mayor Isko Moreno and PMO Chief Michael Peter Alejandro, marks a move by the Department of Finance to repurpose state assets into high-quality, affordable medical facilities for Manileños.
Finance Secretary Frederick D. Go witnessed the formal turnover of a historic Tondo landmark to the City of Manila on Tuesday. The agreement, signed by Mayor Isko Moreno and PMO Chief Michael Peter Alejandro, marks a move by the Department of Finance to repurpose state assets into high-quality, affordable medical facilities for Manileños.
To expand access to medical services in Manila, the Department of Finance (DOF) and the Manila City government officially launched the redevelopment of the Emmanuel Community Hospital, Inc. (ECHI) property, transforming a long-dormant landmark into a modern healthcare facility.
The project was formalized at Manila City Hall through the signing of a deed of conditional sale between Manila Mayor Francisco “Isko” Moreno and Privatization and Management Office (PMO) Chief Privatization Officer Michael Peter A. Alejandro. The agreement, approved by the Privatization Council (PrC), aims to provide Manila residents with broader access to affordable, high-quality medical services.
Finance Secretary Frederick D. Go, who chairs the PrC, highlighted the project’s significance for the local community.
“This is a very important day because it marks the beginning of building a new hospital that will help countless people in Tondo. It is the start of improving health services for the people of Manila,” Go said during the signing ceremony.
The nearly 2,000-square-meter property, comprising five contiguous lots and a three-story building, was foreclosed in 1980 and remained an idle government asset for decades.
Mayor Moreno expressed his gratitude to the DOF and the PMO for their swift action, noting that the redevelopment proposal was approved in just three months.
Moreno assured the finance secretary that they would make good use of the opportunity given to serve the people of Manila.
This initiative reflects the DOF’s broader mandate to manage and optimize government assets. By converting this idle property into a fully equipped medical institution, the government aims to generate both economic value and tangible social benefits for the public.
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