By Jenniffer B. Austria | Posted on Nov. 15, 2012 at 12:01am
[ manilastandardtoday.com ]
Bases Conversion and Development Authority expects the 33.1-hectare Bonifacio South property in Taguig City to fetch higher price than the P20-billion unsolicited offer made by SM Land Inc.
BCDA president Arnel Paciano Casanova said in an interview the successful bidding of the 74-hectare Food Terminal Inc., which was sold at over P24 billion, had led the company to think the Bonifacio South could get better bids than the one offered by SM Land, a unit retail tycoon Henry Sy.
Casanova said the location of Bonifacio South was more prime than FTI. BCDA’s property is located along South Superhighway and close to commercial and residential areas.
The property is situated along Lawton Avenue and lies between Newport City and McKinley in the south of Bonifacio Global City. It includes the lands occupied by the Army Support Command and Special Services Unit of the Philippine Army, the Bonifacio Naval Station and the Philippine Marine Corps of the Philippine Navy.
The BCDA in September declined SM Land’s unsolicited offer and decided to bid out the lot.