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THE Net
Group, which is among the first companies that saw the
potentials of Fort Bonifacio as a new business hub, won
the bidding for the 1.2-hectare Expanded Big Delta Lots
in the Bonifacio Global City, the Bases Conversion and
Development Authority (BCDA) announced Monday.
BCDA
president Narciso Abaya said the Net Group of Jacques
Dupasquier and Carlos Rufino submitted a bid of
P168,889.11 per square meter, or P2.032 billion. It is
above the agency’s minimum price of P160,000 per sq m,
or P1.925 billion, for the property.
Aileen
Zosa, BCDA vice president, said the company forwarded
the only complying bid among the four companies that
beat the deadline for the submission of eligibility
documents and bid price early this month.
The
three other companies were the Ayala Land Inc., the Hart
& Haring of Austria and the Imagine Realty Corp.
Zosa
said Net Group would now have to pay the P600-million
down payment upon the signing of the contract to sell,
which is one month after it was given the notice of
award on April 23.
The
balance will be paid within three months from the
issuance of the notice of award.
“The
company was not required to come up with the amount of
its planned investment for the development since this is
a straight sale,” Zosa told the BusinessMirror.
The
winning bidder, she added, wants to start development
once the lot is turned over, which is upon full payment.
Net
Group’s plan, she said, would put up commercial and
residential facilities in the area, but mostly office
spaces.
Abaya
said the lot is on
5th Avenue,
across The Fort, and is in BGC’s E-Square, whose
classification as a special economic zone by the
Philippine Economic Zone Authority (Peza) entitles the
developer to government incentives.
The
property has a maximum allowable floor-area ratio (FAR)
of 12, allowing 144,432 sq m of mixed-use development.
Abaya
said the biggest advantage of the property is that it is
directly adjacent to the West Super Block that will
house the Philippine Stock Exchange, the six-star
Shangri-La Hotel and the high-end residential
condominiums of Shangri-La and Ayala Land.
The Net
Group, Abaya said, is among the first developers to
believe in the Bonifacio Global City as the country’s
future central business hub.
The Net
Group is the premier office developer in the Bonifacio
Global City with a 100-percent leased portfolio that
includes
Net One Center,
Net Square, Net Cube, Net Quad and Net Plaza.
In
addition to being The Net Group chairman and president,
respectively, Dupasquier and Rufino are also vice
chairman and president, respectively, of Bonifacio West
Development Corp., owner and codeveloper of Forbes Town
Center—the 5-hectare, 12-building residential and retail
project fronting Manila Golf.
It was
actually the third time that the BCDA conducted a
bidding for the 1-hectare to 2-hectare property after
the previous attempts to dispose of the lot failed. |
