By Zinnia B. Dela Peña (The Philippine
Star) | Updated September 19, 2013 - 12:00am
MANILA, Philippines - Clark Quay
Holdings was the only bidder for the Social Security System’s 8,300-square
meter prime property in Bonifacio Global City.
Sources said Clark Quay submitted a
bid of P2.33 billion, just four percent higher than the set floor price of
P2.24 billion.
Only four out of the seven that
expressed interest in the property submitted eligibility documents – Robinsons
Land Corp., Clark Quay, TheNET Group, and Keyland Corp.
RLC and Keyland, however, were
declared ineligible to join the bidding.
TheNET, however, decided not to submit
any bid Tuesday, leaving just one buyer (Clark Quay).
Sources said the state pension fund’s
Investment Oversight Committee and Social Service Commission would decide
between Oct. 8 and 15 whether or not to accept the lone bid offer from Clark
Quay.
The property, known as Block 56, is
located along Mckinley Parkway and between the 10th and 11th Avenues and near
Market! Market!, Bonifacio High Street, and the newly-opened SM Aura.
It was acquired via a debt for asset
arrangement with Bonifacio Land Corp., involving the latter’s P1.5-billion
obligation to SSS.
The SSS has put the property on the
auction block to allow it to maximize the full potential value of its real
estate assets amid a robust property market.
The state pension fund has P20 billion
worth of real estate assets which include a four-hectare property located on
East Avenue along EDSA, prime pieces of land in BGC, and a big lot near the
Senate area.
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