By Louella D. Desiderio (The
Philippine Star) Updated October 28, 2012 12:00 AM
MANILA, Philippines - Bidding for the
1,000 square meter (sqm) property beside the Everest Academy in Bonifacio
Global City (BGC) may have to wait until next year as the Bases Conversion and
Development Authority (BCDA) needs to finish preparations for the auction of
the 33.1-hectare Bonifacio South property first.
“We have no definite schedule for the
(bidding of the) property beside Everest yet because we want to focus on
Bonifacio South first,” Nena Radoc, BCDA vice president and chief finance
officer said in a telephone interview.
“If we can’t have the bidding for
Everest this year, then we’ll have it early next year,” she said further.
The BCDA said earlier it was looking
to hold the auction for the 1,000 sqm property beside the Everest Academy in
the third quarter.
The property is suitable for
institutional use.
Radoc said the BCDA wants to focus on
the Bonifacio South property located along Lawton Avenue in BGC first since it
is the bigger property.
She said the state-run corporation is
currently working on the terms of reference of the Bonifacio South bidding.
She also said that the plan is to
conduct the auction for the Bonifacio South this year.
The BCDA is holding an auction for the
Bonifacio South property after putting aside the Swiss challenge for the
unsolicited proposal of SM Land, Inc. to develop the area.
The plan to conduct the bidding for
the property is in line with a directive from the Office of the President.
In August 2010, real estate firms were
asked to submit proposals to challenge the unsolicited proposal of SM Land for
the property but the proceedings were put on hold with a review by Malacanang
of the lease and other issues.
The BCDA intends to develop the
Bonifacio South property into a medium to high density residential and mixed
use area.
BCDA president Arnel Casanova said
earlier they expect to get a good price for the Bonifacio South property,
citing the winning bid for the development of the Food Terminal Inc. (FTI).
In August, Ayala Land Inc. won the
bidding for the 74-hectare FTI property after offering P24 billion.
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