Bacolod City, Philippines — Negrenses
should not think “it’s the end of the world” if a mutual disengagement from the
P6-billion project in the 7.7-hectare property be reached between Ayala Land
Inc. (ALI) and the Negros Occidental provincial government, Vice Gov. Genaro
Alvarez said.
“It will not be the end of the world.
There will be other interested investors,” he said.
ALI had written Gov. Alfredo Marañon
Jr. last Sept. 13 that they are open to discussing a “mutual disengagement”
from the project, due to the failure of the provincial government to deliver
the property to them.
The Deed of Conditional Sale and
Contract for Lease for the said property was awarded to ALI in July 2011, but
the contracts are still pending until now at the Commission on Audit (COA).
Aside from this, SM Prime Holdings Inc
(SMPHI), the rival bidder to the 7.7-hectare property, has filed a case against
several Negros Occidental officials before a Bacolod court, questioning their
awarding of the property to ALI and insisting they are the rightful winning
bidder to the property.
Negros Occidental 3rd District Rep.
Alfredo Abelardo Benitez said he was surprised to learn of ALI’s pullout.
“I was surprised, to tell you
frankly,” he told reporters Saturday.
“If they (ALI) joined the bidding
process and they felt it was good business to participate in the project, I
don’t see any reason why they should pull out,” he said.
Benitez, a friend of the Sy family, who
owns SMPHI, accompanied Hans Sy, the company’s president, in submitting to the
governor SMPHI’s “unsolicited proposal” to purchase and lease the said property
in May 2011 for the construction of a P2.5 billion convention center and hotel.
Benitez said he believes that COA is
awaiting the decision of the court on the case filed by SMPHI, before
eventually approving or disapproving the signed contracts on the sale and lease
of the said property.
“There’s a case in court that has been
filed. Even if COA comes out (with a ruling) there’s a court case that has to
be resolved,” Benitez said.
Meanwhile, an ALI executive said they
will just focus on their 200-hectare NorthPoint development in Talisay City,
Negros Occidental with P7-billion investments.
Emilio Tumbocon, ALI senior vice
president, said last week that the 14-month delay in the Negros-ALI deal is not
good business for them for they cannot operate in an environment of
uncertainty.
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