Ruben Carranza Jr., PCGG commissioner, said that of the nine lots set for bidding by the PCGG, only one has been sold so far.
"These are prime lots and maybe buyers find the prices too high. They are being sold on cash basis only and on ‘as is basis.’ That means the buyers also have to pay the taxes," he added.
The property sold for P10.5 million measures 1,445 square meters and is situated in Barangay Lahug, Beverly Hills, Cebu City.
The unsold estates are found on Outlook Drive (North), Baguio City; Outlook Drive (North), Baguio-Itogon Road, Baguio City; EDSA corner Berkely street, Mandaluyong City (in front of SM Megamall); Maligaya street, Pangarap Village, Makatipo, Tala, Caloocan City.
The proceeds of the sale, just like the other recoveries of the PCGG, will go to the Comprehensive Agrarian Reform Program. — Sheila Crisostomo