Government Launches ‘Seeking a Owner’ Initiative Featuring Sale of Three Islands

Original article: Patrimonio fiscal en venta: Gobierno incluye tres islas en plan “Se busca dueño”

The National Property Ministry has initiated a strategy to divest fiscal assets, prominently including three islands from the Los Ríos and Magallanes regions.

Among the properties available for sale is the Sofia Island, a 1.68-hectare site located in the commune of Corral, Los Ríos Region, which has been listed for sale in previous processes over the past 14 years.

This island is strategically located on the Valdivia River, approximately 6.2 kilometers from its mouth at Corral Bay and only 9 kilometers from the city of Valdivia, providing a significant scenic value and accessibility.

In the Magallanes Region, specifically in the commune of Timaukel, two islands are available in the Lago Blanco area: the Nameless Island, which spans 2.11 hectares, and Arturo Island, measuring 2.71 hectares, making it the largest of the three.

The auction guidelines specify that bids will be conducted in person at the respective regional secretariats, and interested parties, whether individuals or legal entities, must verify their identity and provide a guarantee equivalent to 10% of the property’s value.

For corporations, the requirement includes demonstrating legal status and representation.

As reported by CNN Chile, although the prices for the islands have yet to be disclosed, it is anticipated that their valuation will be based on fiscal appraisals and confirmed by the Special Commission on Divestitures, which will assess each case individually, taking into account specific conditions and any existing debts on the properties.

What Does the National Property Ministry Say?

The National Property Ministry argued that this initiative aims to «organize and activate part of its portfolio of fiscal properties» and will make the properties available to individuals, companies, and investors.

According to the ministry, it will sell those properties that the State does not require for fulfilling a public function «and open them to new opportunities.”

The «Seeking an Owner» plan is not limited to the three mentioned islands, as the overall inventory of properties for auction covers various regions, totaling 37 properties distributed across Atacama, the Metropolitan Region, Magallanes, Coquimbo, and Los Lagos.

 The Atacama Region leads the list with 39 properties, followed by Metropolitan with 29, while Magallanes contributes 17, Coquimbo 14, and Los Lagos 11.

Applications and complete details of the terms and conditions are available on the portal licitaciones.mbienes.gob.cl,