Preamble
WHEREAS, there is a need to provide for a coordinated, economical and efficient administration of lands and real estate, especially reclaimed lands, belonging to, managed and/or operated by the government; WHEREAS, a government-owned and/or controlled entity organized for the purpose is necessary; NOW, THEREFORE, I, FERDINAND E. MARCOS , President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order;