Peru sells ministry of education property for $13.2 million

Living in Peru
Israel J. Ruiz

The government sold on Monday morning the first of a series of properties that will be auctioned as a part of a program that will relocate ministry workers to new buildings.

The property on which the ministry of education is located in Lima was purchased this morning by Grupo Brescia for over $13.2 million.

According to Jorge Villanueva, the country’s Superintendent for National Real Estate, the ministry was sold for one million more dollars than what the property had been valued at.

Villanueva assured that this sale had been successful because private companies felt safe investing in Peru. He added that this was something President Alan Garcia had been encouraging for some time.

The success of this fist auction generates great expectations for future sales, in which other valuable pieces of government property will be sold, Villanueva said.

It was reported that thirteen companies had placed bids for the property in San Borja, an upscale residential district in Lima.

The property is to be handed over to Grupo Brescia in 60 days, at which time the ministry of education will temporarily relocate to the National Museum.

The new building for ministry of education workers and for Minister Chang will be much smaller than the building that was just sold.

"You could play golf at the other site, but we are trying to build a more austere and efficient State, said Villanueva.

One of the government’s most valuable properties that is to be sold is the ministry of the interior.