OVP in talks with GSIS to acquire Coconut Palace as permanent office for VPs | Inquirer News

OVP in talks with GSIS to acquire Coconut Palace as permanent office for VPs

By: - Reporter / @DYGalvezINQ
/ 04:37 PM September 29, 2022
OVP in talks with GSIS to acquire Coconut Palace as permanent office for VPs


MANILA, Philippines — The Office of the Vice President (OVP) is currently in talks with the Government Service Insurance System (GSIS) to acquire the Coconut Palace as the permanent home and office of the current and succeeding Vice Presidents.

Vice President Sara Duterte revealed the plan on Thursday during the Senate finance committee hearing on the proposed P2.3 billion budget of the OVP for 2023.


“Right now, we are talking to GSIS of properties under them that can be donated or sold to the OVP as a permanent property of the OVP,” she said.

“Right now, we are looking at one property only, and that is the Coconut Palace,” Duterte added.


However, she clarified that the OVP is still looking at other government properties that can be given to the OVP as a permanent office.

Duterte added that the OVP has initially allotted P10 million for a downpayment for the property to secure the contract and will ask for additional funds in the coming years for multi-year payments for the property.

As to the Coconut Palace, she said the GSIS has not yet identified an amount for its acquisition.

The Coconut Palace was former Vice President Jejomar Binay’s office during his term from 2010 to 2016.

The OVP wants to give successive vice presidents a “permanent house and office” to stabilize and decrease office costs.

The OVP is currently holding office in Mandaluyong City. Duterte’s predecessor, former Vice President Leni Robredo, meanwhile had an office at the Quezon City Reception House in New Manila in Quezon City.

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TAGS: Coconut Palace, GSIS, OVP
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