By Julito G.
Rada | Posted on Jan. 07, 2013 at 12:01am
State-run
Bases Conversion and Development Authority expects top foreign and local real
estate firms to join the auction for a 33.1-hectare property in Taguig City.
“We are
optimistic that the top real estate companies, both foreign and local, will
participate in the bidding of Bonifacio South Pointe,” BCDA president and chief
executive Arnel Paciano Casanova said over the weekend, adding the country’s
economic fundamentals pointed to a healthy and promising real estate
environment this year.
BCDA published
the terms of the bidding for a joint-venture partner to develop the property in
local and foreign papers.
The BCDA
invited bidders to apply for eligibility and submit proposals for a 55-percent
share in an incorporated joint venture, in which the BCDA will hold a
45-percent share. The joint venture will own and develop the property.
BCDA also
said the terms of reference for the bidding can be purchased until Feb. 15,
2013.
BCDA Asset
Disposition Program Committee chairman Nena Radoc said interested bidders can
submit their letters of intent to her office at the BCDA Corporate Center in
Bonifacio Global City and purchase the terms of reference for a non-refundable
fee of P500,000, or $12,200.
BCDA said the
variable component of the financial bid must be no less than P13.2 billion, or
approximately $323,498,748 based on an exchange rate of P41:$1. The agency also
said the variable component would be in addition to the fixed component of P8.6
billion, which would be used as working capital of the joint venture
corporation.
BCDA said it
would hold a pre-bid conference on Jan. 18, 2013 at 1 p.m. at the BCDA
Corporate Center to discuss inquiries from interested bidders.
The property
is composed of lands presently occupied in part by the Army Support Command and
Special Services Unit of the Philippine Army and in part by the Bonifacio Naval
Station and Philippine Marine Corps of the Philippine Navy.
The land was
transferred and subsequently titled to BCDA for disposition pursuant to the
BCDA charter, which was passed into law in 1992 during the administration of
the late President Corazon Aquino.
________________________________________________________
