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Auction of Bonifacio property draws five bids -- BCDA exec

Posted on August 26, 2012 08:30:47 PM [ BusinessWorld Online ]

FIVE GROUPS submitted bids during the auction last Friday of the Sampaguita East Ramp lot in the Fort Bonifacio area in the City of Taguig, an official of the Bases Conversion and Development Authority (BCDA) said over the weekend.

  "For the Sampaguita East Ramp lot, five proposals were submitted from the 10 firms that bought bid packages," Nena D. Radoc, head of BCDA’s bidding committee, said in a telephone interview on Friday.

She said the highest bid was P47.55 million, but declined to identify the party concerned as all bids were still to undergo post-auction qualification.

She added that all of the bids "were higher than the asking price of P28.76 million."

The 1,244-square meter Sampaguita property along C-5 Road across the Market! Market! Mall is expected to be developed into a mixed-use complex.

It is the third property to be auctioned off by BCDA this year.

The agency held last Aug. 22 the packaged auction for the 5,389-square meter Nichols Loop and 5,005.13-square meter Nichols Driving Range near the Sales Interchange and Villamor Air Base. The sale failed since only bidder submitted a bid on time. Ms. Radoc said one bidder was late in submitting its proposal.

On Aug. 23, BCDA received three bids for the 3,099-sq.m. Eastgate Parking Facility along 14th Drive in Bonifacio Global City.

Ms. Radoc said BCDA hopes to announce the winners for the Eastgate and Sampaguita properties on Sept. 28 after its board gives its approval.

The post-auction qualification process for these properties is expected to last until Sept. 21.

Ms. Radoc said BCDA is planning a new auction for the Nichols areas and "will be re-advertising the property in the next two weeks."

"It will be at the same price level and there will be no changes in the terms. We want to disseminate the information to more bidders and those who have already bid may still participate," she said.

The Nichols properties have a joint floor price tag of P89.59 million.

BCDA also plans to auction off some time this quarter the 1,000 sq.m. West of Summit property beside Everest Academy in Bonifacio Global City. -- Emilia Narni J. David  
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