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THE
Bases Conversion and Development Authority (BCDA) makes
a third attempt to sell off its 1.2-hectare “primest
lot” in Bonifacio Global City (BGC) within the month,
with high hopes the “more reasonable” terms of reference
(TOR) this time will finally result in an acceptable
bid.
Aileen Zosa, BCDA vice president, told
the BusinessMirror they will publish the invitation to
bid and make the lightened TOR available in the next few
days for the so-called Big Delta Lots group, which has
eluded sale even though big local and foreign developers
have expressed strong desire to acquire it since last
year. “The TOR would be more reasonable this time
because of the two failed biddings that we had.”
Zosa added, however, that they are
relaxing the terms only for a straight sale payable in
six months after the signing of the contract to protect
government interest.
One of the changes would be the removal
of the obligatory minimum standby credit line of P1
billion, with which the BCDA can draw from should there
be a need to add funding for the construction of the
Subic-Clark-Tarlac Expressway.
The BCDA would no longer require a
performance bond as well as a joint and several
liability clauses.
Among the companies sure to join the
third bidding are Robinsons Land, the NET Group and the
Ascendas of Singapore.
In the previous biddings,Filinvest Land,
IPM Realty Corp., Landco Pacific, ML&H Corp., Philtown
Inc., Ayala Land Inc. and Century Properties were among
those that expressed interest.
Zosa said they hope to complete the sale
in less than three months.
The BCDA valued the property at P160,000
per square meter with maximum floor-area ratio of 12. It
is located on 5th Avenue, across The Fort, and is the gateway to the
City
Center. She said the property is perfect for high-end
developments such as hotels, residences, offices, a
commercial center or a combination of all these. |
