• PCGG bids out P114-M forfeited assets


    THE Presidential Commission on Good Government (PCGG) on Friday said 14 prospective bidders purchased bidding documents in connection with the sale of forfeited pieces of property of a former director of the National Bureau of Investigation (NBI) estimated at P114,362, 000 just a week after the publication of the invitation to bid.

    The forfeited assets of Jolly Bugarin that are all in Metro Manila are a house and lot in North Greenhills, San Juan City, with a lot area of 727 square meters; another house and lot in Valle Verde III, Pasig City, with an area of 721 square meters; and a 582-square meter vacant lot in BF Homes Subdivision, Barangay Holy Spirit, Quezon City.

    Commissioner Richard Amurao, chairman of the PCGG Bids and Awards Committee for Privatization, noted the interest shown in the pieces of property and he expressed confidence that the commission will receive competitive bid offers during the auction sale.

    The floor prices for the Bugarin assets are set at P60,743,000 for the Greenhills property, P45,471,000 for the Valle Verde property and P8,148,000 for the Quezon City property.

    PCGG Chairman Andres Bautista earlier said the commission will auction off recovered pieces of real-estate worth about P114 million in September this year.

    He added that the Department of Finance’s Privatization Council has allowed the commission to proceed with the public auction of the three pieces of recovered property whose titles are already in the name of the government.

    The public auction is scheduled for September 1 for the Greenhills and Valle Verde assets and September 2 for the Quezon City property.

    Bid documents are available up to July 25.


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