State-owned Philippine National Oil Co. is offering for sale 23 vacant lots in Costa Verde Subdivision in Rosario, Cavite and seven condominium units in El Pueblo Condomitel in Sta. Mesa, Manila for a combined value of around P110 million.
“These units are the remaining inventories of an abolished subsidiary (PDMC) whose business is to develop and sell real estate. PDMC was ordered closed so we are selling its remaining inventories as an administrator,” PNOC president Reuben Lista said.
Former President Benigno Aquino Jr.approved the abolition of PNOC Development and Management Corp., the real estate unit of PNOC in 2014. PNOC is the government’s oil and gas arm.
The vacant lots in Cavite have an area which ranges from 240 square meters to 390 sq. m. with an estimated value of P15,400 per sq. meter.
Costa Verde subdivision and some of the commercial areas are located at the southwest side of Gen. Trias drive in Cavite. Alena Mae S. Flores
Five of the Condomitel units have a floor area of 18.5 sq. m. while one unit occupies 25.3 sq. meter The remaining unit has an area of 55.5 sq. meters. The price of the condo units ranges from P1.699 million to P5.531 million.