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By Katrina Mennen A. Valdez, Reporter
State-owned Bases Conversion Development
Authority said Friday it has lured China’s top realtor Shimao
Group into participating in the bidding for North Bonifacio Lots
after turning down the firm’s unsolicited proposal for the two
properties in Global City.
Aileen Zosa, BCDA vice president for business
development, said in a briefing that some eight hectares of real
estate in the northernmost portion of Bonifacio Global City, which
had been eyed by the Shimao Group, is up for bidding.
It will be recalled that China’s Shimao Group
submitted an unsolicited proposal for the North Bonifacio lots. BCDA
did not accept Shimao’s unsolicited proposal absent the issuance
by NEDA of the Guidelines on Joint Ventures, which would have
included a prescribed Swiss challenge process for unsolicited
proposals. BCDA did not have solid legal basis to undertake the
Swiss challenge on Shimao’s unsolicited proposal.
Thus, BCDA has opted to simply bid out the North
Bonifacio property this year as well as the 35-hectare JUSMAG
property early next year.
Unsolicited proposals are subjected to Swiss
challenge, but only limited to Build-Operate-Transfer or
infrastructure projects.
“The Shimao Group is most qualified and
possesses the financial capability and track record to compete for
the development of any property in Fort Bonifacio,” Zosa said.
North Bonifacio Lots are ideal for mixed-use
development as they are adjacent to the already-developed and
sold-out Bonifacio Triangle of Fort Bonifacio Development
Corporation. The lots are located across the Metrobank property in
the west and near BCDA’s Institutional Area, which hosts British
School, International School and Manila Japanese School, among
others.
“With the prevailing momentum of development
in the area, [we] are expecting the North Bonifacio property to
fetch at least P34,000 per square meter on a raw land basis, and
more than P100,000 per sq.m. on a developed basis , ” Zosa said.
Relatedly, BCDA will also bid out the
1.2-hectare block in the Expanded Big Delta, the
old location of the Government Center for
Investments, with a minimum bid price for the property unchanged at
P160, 000 per square meter or a total of P1.92 billion.
“The highest bidder will bag the contract,”
Zosa said.
She said further that the bidding rules provide
for a straight-sale mode of disposition, either by cash payment upon
contract signing or P600-million downpayment and the balance within
three months.
Six proponents attended the pre-bid conference:
Ascendas (Philippines) Corp., The Net Group, Imagine Realty
Corporation, JTKC Land, Inc., Ayala Land, Inc. and Hart & Haring
Bautrager GmbH, an Austrian group.
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