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Built in the 1980s, Atrium is among the most recognizable low-rise office buildings along Makati Avenue.
MANILA, Philippines – The Atrium of Makati, a squat concrete office building facing the Ayala Triangle park, has given a P1-billion boost to the government.
The Department of Finance (DOF) said Thursday, July 16, that the government had finalized the sale of 24 condominium units and 21 parking spaces in the decades-old Makati Avenue building. The sale was made to Sanpiro Realty Development Corporation.
Finance Secretary Frederick Go said the sale is part of the government’s efforts to convert obsolete assets into cash for public use.
“This sale demonstrates our commitment to turn non-performing government assets into revenue that strengthens our ability to fund priority programs and support long-term national development,” Go said.
The activity pushed the collections of the Privatization and Management Office (PMO) to P1.87 billion in the first half of 2026. That already matched the office’s collections for the entire year of 2025 and was about two and a half times its full-year target for 2026, according to the DOF.
Built in the 1980s, Atrium is among the most recognizable low-rise buildings along Makati Road, distinguished by its heavy concrete exterior bands and deep horizontal. It was designed in the Brutalist style and sits alongside the modern glass skyscrapers of the Zuellig Building and across the Ayala Triangle, near the intersection of Makati Avenue and Paseo de Roxas.
The Privatization Council also recently approved new guidelines that would allow for more ways of divesting state assets, including the acceptance of unsolicited offers. Unsolicited proposals can help governments move assets that have attracted little market interest.
Chief Privatization Officer Michael Peter Alejandro said the government plans to build on the sale of Atrium as it brings other properties to market.
“We will continue this momentum as we pursue other assets for pipeline construction,” Alejandro said. – Rappler.com
