PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

BCDA awards 2 properties

By Louella D. Desiderio (The Philippine Star) Updated September 25, 2012 12:00 AM

MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) has awarded the development of two assets in Taguig City to businessman Simon Paz.

“The BCDA Board of Directors has approved the award to Mr. Simon Paz as the highest bidder for both the Eastgate parking facility and Sampaguita East Ramp,” Nena Radoc, BCDA vice president and chief finance officer said in a text message yesterday.

Paz’s P190.76 million bid for the 3,099 square meter (sqm) Eastgate parking facility was 56 percent higher than the P122.41 million floor price, and more than the two other proposals submitted to develop the property.

The Eastgate parking facility has been designated for institutional use.

Paz’s bid for the 1,224 sqm Sampaguita East Ramp lot amounting to P47.55 million, was likewise 65 percent above the P28.76 million minimum bid price.

Radoc said Paz’s bid was likewise higher than those made by four others that expressed interest to develop the property.

The Sampaguita East Ramp lot is suitable for residential, commercial and institutional use.

“Paz participated as individual bidder,” Radoc said.

Details on the company represented by Paz were not immediately available.

Apart from the Eastgate parking facility and Sampaguita East Ramp lot, the BCDA also plans to bid out the 5,005 sqm driving range lot as well as the 5,389 sqm Nichols Loop in Pasay City with a combined value of P89.59 million.

The first tender for the driving range lot and Nichols Loop which was held last month was declared a failure as only one firm submitted a proposal.

The BCDA is holding a second bidding for the two properties.

Bid documents can be purchased until Oct. 15, while the deadline for submission and opening of bids has been scheduled on Oct. 17.

The state-run corporation is likewise planning to conduct the bidding for the 33.1-hectare Bonifacio South property and the 1,000 sqm property beside the Everest Academy, both in Bonifacio Global City next month.

real estate central philippines
Copyright ©2008-2018