By Louella D.
Desiderio (The Philippine Star) | Updated July 26, 2013 - 12:00am
MANILA,
Philippines - The Bases Conversion and Development Authority (BCDA) is set to
award the lease and development of a 1,395 square-meter institutional property
in Bonifacio Global City (BGC) in Taguig City to one of the country’s top
universities next month.
“Within
August, we should be able to award the property,” Nena Radoc, BCDA Asset
Disposition Program Committee chair said in a telephone interview yesterday.
BCDA
conducted the bidding Tuesday for the lease and development of the property
intended for educational institutions.
Out of the
three universities which bought bid documents, she said only one submitted a
bid.
“That one
bidder was able to meet the minimum bid price of P3.948 million set for the
property,” she said.
She said the
other educational institutions which purchased bid documents did not
participate in the bidding as they wanted to lease and develop a bigger
property.
“The
universities said they need at least 2,000 square-meters. What we opened for
bidding is a small lot,” she said.
While the
lone bidder, which is one of the country’s top universities has met the minimum
acceptable bid for the property, the BCDA still has to conduct evaluation and
post-qualification of the submitted proposal.
“We have a
policy that we cannot reveal the winner until we are done with the
post-qualification and evaluation,” Radoc said.
The minimum
acceptable starting annual lease for the property which is at P3.948 million,
is subject to five percent annual escalation.
The winning bidder would be required to pay in
advance the annual lease for the first four years.
The BCDA said
earlier the winning bidder of the property would have a chance to be present in
the most progressive and prestigious address in Metro Manila.
This, as the
property offered to educational institutions is the last remaining vacant lot
at the institutional area of BGC.
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