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SSS to sell prime lots in Makati, Quezon City

By Jenniffer B. Austria | Nov. 25, 2013 at 12:03am [ manilastandardtoday.com ]

State-run pension fund Social Security System plans to sell three prime properties, including its headquarters in Makati City and a four-hectare complex in Quezon City, following the successful sale of a lot in Bonifacio Global City.

SSS president and chief executive Emilio de Quiros said in an interview the fund would also hold an auction for the lease of Hong Kong Plaza, located near Pagcor’s Entertainment City and SM Mall of Asia in ParaƱaque City.

“We will probably announce a bidding for possible lease of the project. We are looking at 10- to 20-year lease because the area is going to experience an increase in value given the developments in the area,” De Quiros said.

De Quiros said the three properties under evaluation for possible sale included another lot in Bonifacio Global City, the four-hectare lot along East Avenue in Quezon City and its head office along Herrera St. in Makati City.

He said the fund had received several inquiries about the Quezon City property, a prime complex located near several township developments within the area.

“We are evaluating all properties to see if we can..either sell or [form] possible joint venture,” De Quiros said.

SSS awarded an 8,300-square meter lot in Bonifacio Global City to Filipino-owned Clark Quay Holdings Inc. in October.

Clark Quay submitted a bid of P2.33 billion for SSS’ Block 56 property, which is comprised of four parcels of land. The lot is suited for a mixed-use commercial and residential land development.

The BGC property attracted seven companies which bought terms of reference in July, including Clark Quay, Net Group, Ayala Land Inc., Robinsons Land Corp., Jones Lang LaSalle, KeyLand Corp. and Santiago and Santiago Law Office.
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