AT LEAST seven properties of former President Ferdinand Marcos, his cronies and associates will be up for auction including the Wigwam Compound in Baguio City, the Presidential Commission on Good Government (PCGG) announced in its official website on January 19.
It said the Privatization Council headed by the Department of Finance (DOF) has approved the proposed sale via public bidding of Marcos’ seven properties worth P65.8 million.
The Wigwam Compound property was ceded to the government by Jose Y. Campos in March 1986, with an area of 1,146 square meters. Campos is a known associate of former President Marcos who held in trust for him several properties, assets and corporations.
Also surrendered by Campos is the famous Marcos mansion sitting on a sprawling two-hectare lot on Outlook Drive.
The property was auctioned by the PCGG in 2013 and was bought Alfredo Yao of the Yao Group of Companies plans. The old mansion is set to be reconstructed into a boutique hotel under the Sol Marina brand.
Aside from the Baguio assets, set to be privatized are three properties that were forfeited from former National Bureau of Investigation (NBI) Director Jolly Bugarin in favor of the Republic by virtue of Supreme Court decision dated 6 August 2012.
The PCGG said the properties consist of a 2,335-square meter land located in Tagaytay City, and parcels of land in Puerto Galera and Calapan, Oriental Mindoro.
The Privatization Council also approved the proposed sale of the Benedicto-owned BBC-Legazpi and BBC-Naga properties that were surrendered to the Republic/PCGG, by virtue of the Compromise Agreement between PCGG and former Ambassador Roberto S. Benedicto.
The properties consist of a 5,161-square meter land in Legazpi City and a land measuring 5,952 square meters located in Naga City.
Another property is in Caloocan City, ceded to the Republic/PCGG by virtue of a 1994 Compromise Agreement between PCGG and spouses Alejo and Teresita Ganut.
Public bidding of the said properties is expected to be held in March this year.
The PCGG said these properties form part of the ill-gotten wealth accumulated by the former President.