By Ayen Infante
12/17/2009 [ tribune.net.ph ]
At least 12 giant property firms expressed interest in becoming the government’s partner for the development of the former 34.5-hectare Joint United States Military Assistance Group (Jusmag) property in Fort Bonifacio in Taguig.
The state-owned Bases Conversion and Development Authority (BCDA) said the 12 groups will undergo the official qualifying process prior to the public auction for the development contract.
BCDA vice president for business development Aileen Zosa said groups which purchased the terms of reference (ToR) for Volume 1, or the eligibility documents, for the bid for BCDA’s joint venture partner were Filinvest Land Inc., Century City Development Corp., Robinsons Land Corp., Ayala Land Inc., Megaworld Corp., Nuvoland, Rockwell Land Corp., Jones Lang La Salle Leechiu, IPM Realty and Development Corp., The Rufino Group, JTKC Land Inc. and San Miguel Properties Inc.
Zosa said the entire Jusmag property is 35.5 hectares but the area is subject of disposition under the third phase of BCDA’s Asset Disposition Program that comprises 34.5 hectares with the remaining one-hectare area allocated for civic or institutional use.
She said of the 34.5-hectare area for disposition, 20.76 hectares are subject for building development, 2.02 hectares will be reserved for recreation and open spaces, 0.62 hectares for utilities, and 11.05 hectares as access lots, including 0.97 hectares for the widening of Lawton Avenue.
Zosa noted that the maximum allowable gross floor area for the property is 1.383 million square meters (sq. m.).
The 34.5-hectare Jusmag property is along Lawton Avenue in Fort Bonifacio, Taguig City at the back of posh Forbes Park. The going market price for lots in the property is P19,000 per sqm.
The BCDA is expected to generate at least P6.55 billion for the said property. Deadline for submission of eligibility requirements is Jan. 14 next year. Proponents declared eligible by BCDA are expected to submit their final technical and financial proposals not later than March 3, 2010.
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