Published on 07 January 2013 [
manilatimes.net ]
Written by RAADEE S. SAUSA
The
state-controlled Bases Conversion and Development Authority (BCDA) is eyeing a
top foreign or local real estate developer for the development of its prime
33.1-hectare Bonifacio South Pointe Property.
BCDA
President and Chief Executive Arnel Paciano Casanova said that over the weekend
that “we are optimistic that the top real estate companies, both foreign and
local, will participate in the bidding of Bonifacio South Pointe.”
“Economic
fundamentals of the country point to a very healthy and promising Philippine
real estate environment in 2013 and beyond,” he added.
BCDA has
published an invitation to bid in search of a joint-venture partner for the
development of the 33.1-hectare property in both local and foreign
publications.
In the
invitation to bid, the BCDA is inviting interested bidders to apply for
eligibility and submit bids for a 55-percent share in an incorporated joint
venture. The BCDA will hold a 45-percent share in the joint venture company.
Casanova said
that the variable component of the financial bid must be no less than P13.24
billion, or approximately $323.47 million in present value terms at an exchange
rate of $1:P41. This variable component shall be in addition to the fixed
component of P8.6 billion, which shall be used as working capital of the joint
venture firm, he added.
For her part,
BCDA Asset Disposition Program Committee Chairperson lawyer Nena Radoc said
that interested bidders may submit their letters of intent to the BCDA ADP
Committee Chairperson at the BCDA Corporate Center in Bonifacio Global City,
and purchase the terms of reference (TOR) for a non-refundable fee of P500,000
or $12,200.
A pre-bid
conference will be held on January 18, 2013, 1 p.m. at the BCDA Corporate
Center, where the property and the TOR and inquiries from interested bidders
will be discussed.
________________________________________________________________
