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

BCDA sets 2nd bidding for Nichols property

By Louella D. Desiderio (The Philippine Star) Updated September 11, 2012 12:00 AM

MANILA, Philippines – The Bases Conversion and Development Authority (BCDA) is set to conduct the second bidding for the Nichols property in Pasay City next month.

Nena Radoc, BCDA vice president and chief finance officer, said in a text message yesterday that firms interested to develop the 5,005 square meter (sqm) driving range lot as well as the 5,389 sqm Nichols Loop with a combined value of P89.59 million can start purchasing bid documents from today (Sept. 11) until Oct. 15.

Bid documents will be available at a cost of P50,000.

“Submission and opening of proposals will be (on) Oct. 17,” she said.

“If successful, we hope to sign the contract on or before Dec. 10,” she said further.

The Nichols property has been designated for institutional use.

The BCDA held an auction for the Nichols property last month but the bidding failed as only one firm submitted a proposal to develop the area.

Prior to last month’s auction, the BCDA said three firms have shown interest to develop the Nichols property by purchasing bid documents.

Apart from the Nichols property, the BCDA is also looking to sign the contracts for the development of the Sampaguita property and Eastgate parking facility in Taguig City this year.

Five firms submitted proposals for the auction of the 1,224 square meter (sqm) Sampaguita East Ramp lot which can be developed as a residential, commercial and institutional area, held last month.

All five proposals were higher than the floor price of P28 million.

Three firms, meanwhile, submitted bids for the 3,099 sqm Eastgate parking facility which is suitable for institutional use.

All three firms submitted bids above the P122 million floor price.

Radoc said the winning bidders would be announced after the post-qualification of proposals is completed.

The BCDA is also looking to hold the auction for the 1,000 sqm property beside Everest Academy in Bonifacio Global City (BGC) this year but no date has been set so far.

The BCDA likewise intends to bid out bigger properties in BGC this year after it secures the approval of the Office of the President.

real estate central philippines
Copyright ©2008-2018