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No word from BCDA’s Swiss challenge

By Jenniffer B. Austria | Sep. 21, 2014 at 10:00pm [ ]

The group of retail tycoon Henry Sy is eagerly awaiting the announcement of the Bases Conversion Development Authority on the schedule of the Swiss Challenge for the 33.1-hectare property in Bonifacio South in Taguig City.

The Supreme Court early this month ordered BCDA to conduct a competitive challenge, or popularly known as “Swiss Challenge,” on the unsolicited proposal of SM Land Inc. to develop the property for P25.9 billion.

Sources from the Sy group said they had not heard anything yet from BCDA regarding the schedule of the competitive challenge following the SC decision.

The Sy group remains interested in the Bonifacio South lot despite two much bigger reclamation projects in the offing.

“We will wait what the result of Swiss Challenge will be. But we are still very much interested in the property,” an official from the SM Investments Corp. said.

The Bonifacio South property is composed of lands occupied by the Army Support Command and Special
Unit of the Army, the Bonifacio Naval Station and the Marine Corps of the Navy. It is between Newport City and McKinley West and near the posh Forbes Park.

Several real estate developers earlier expressed interest in the property, including Ayala Land Inc., Filinvest Land Inc., Megaworld Corp., Robinsons Land Corp. and Rockwell Land Corp.

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