State-run Bases Conversion and Development Authority (BCDA) is inviting experienced and financially capable companies to lease and develop its 3,099-square meter Eastgate property located at Bonifacio Global City in Taguig City.
“We are inviting interested bidders to submit bids for the lease and development of the Eastgate property and play a key role in the development of the country’s premier and fastest-growing central business district,” said Arnel Paciano Casanova, BCDA president and chief executive officer.
He added that the Armed Forces of the Philippines will also benefit from the development of the lot, because a significant share of the lease proceeds will go to the AFP Modernization Fund pursuant to Republic Act 7227, or the Bases Conversion and Development Act of 1992.
He said that the Eastgate property is zoned for institutional use and should incorporate in its development a public parking facility.
“Among possible facilities that the property can be developed into are: art gallery; clinic/polyclinic; concert hall; government office; library; place of recreation, sports or culture; school gymnasium; and school auditorium, just to name a few,” Casanova added.
For her part, lawyer Nena Radoc, chairman of the BCDA Asset Disposition Program Committee, said that the Eastgate property will be leased out for an initial period of 15 years and renewable for another 10 years upon mutual agreement.
“The minimum acceptable starting annual lease for the property shall be P10 million inclusive of 12-percent VAT [value-added tax], and subject to a 5-percent annual escalation,” she said.
Radoc added that the winning bidder will also be required to pay in advance the annual lease for the first three years.
She said that a prebid conference, in which the Eastgate property, the terms of reference and inquiries from interested bidders, will be discussed and will be held tentatively on March 4 at 10 a.m. at the BCDA Corporate Center.