The disposition under negotiated sale of the Home Guaranty Corporation’s Air-Rights covering a total area of 192,748.46 square meters above the grade level of the PNR Railway- Used Area starting from the junction of Samson Road in Caloocan City and ending at Sen. Gil J. Puyat Ave., Makati City has been cancelled.

We have been formally informed by the Department of Finance that the said property is a major component of the infrastructure projects currently being considered by the Department of Public Works and Highways, and the Department of Transportation and Communications, under the Public-Private Partnership Development program of the National Government.

Considering these developments, it is no longer in the best interest of the government to undertake the disposition of the said property independent of the National Government initiatives.

CORAZON G. CORPUZ
Acting Executive Vice-President