By Richmond S. Mercurio (The Philippine Star) | Updated May 6, 2015 - 12:00am
MANILA, Philippines - The Villar Group has taken itself out of the chase for the Payanig sa Pasig estate but is still in contention for the Cebu South Road Properties race.
Real estate tycoon and former Sen. Manuel B. Villar Jr. told The STAR that his group would not bid for the 18.5-hectare Payanig sa Pasig property set to be auctioned by the Presidential Commission on Good Government (PCGG) in June this year.
“No to Pasig,” Villar said in a text message when asked if his listed real estate firm Vista Land & Lifescapes Inc. would participate in the auction of the property.
Big property names Ayala Land Inc. (ALI), SM Prime Holdings Inc. and Robinsons Land Corp. (RLC) as well as diversified conglomerate San Miguel Corp. have all expressed interest in bidding for the Payanig sa Pasig property.
The government’s planned auction of the Pasig estate, however, is being opposed and questioned by BLEMP Commercial Philippines Inc., which is claiming ownership of the property.
As for Cebu’s reclaimed South Road Properties, Villar said his group has yet to decide whether it would bid or not for upcoming parcels of land to be offered by the local government.
“Don’t know yet about Cebu,” Villar said.
ALI, SM Prime, and RLC have also indicated their interest to bid for new lots to be sold by the Cebu City government in the 240-hectare property.
A 26-hectare lot in South Road Properties is currently being prepared next for bidding following the 30 hectares won by SM Prime and another 40 hectares bagged by Filinvest Land Inc. of the Gotianun family a few years ago.
Prime Asset Venture Inc. of the Villar Group has recently partnered with Malaysia’s MTD Group, Korean Hanshin Construction Corp. and Korea Rural Corp. to form Alloy-PAVI Hanshin LLED Consortium.
The group will bid for the P123-billion Laguna Lakeshore expressway dike project, the largest Public-Private Partnership (PPP) project rolled out so far by the Aquino administration.
Villar’s property portfolio consists of housing, malls, hotels, convenience stores, and home furnishing and construction supply outlets.
Property unit Vista Land is considered as the country’s largest homebuilder with residential housing developments in 34 provinces and 74 cities and municipalities around the country.