Three firms interested in C5 prime property

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The state-owned Bases Conversion and Development Authority (BCDA) said that three real estate developers have expressed interest on the 5.2-hectare prime property along the Circumferential Road 5 road in Taguig City that the agency is bidding out.

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BCDA President Arnel Paciano Casanova said that the three real estate developers that have expressed keen interest and purchased the terms of reference for the long-term lease and development of the Pamayanang Diego Silang Commercial Lots in Barangay Usuan, Taguig, were Filinvest Land Inc., R-II Builders Inc. and Robinsons Land Corp.

The property is located in the immediate vicinity of a number of residential condominium developments such as Acacia Estates, Grace Residences, Rosewood Pointe, Royal Palm Residences, Cypress Towers and Pamayanang Diego Silang, making the property a prime location for the development of a commercial complex.

“The location of the property has a captured market and ideal for a commercial complex that would cater to the needs of the residents living within the area,” Casanova said.

He said that besides general commercial use, the property can be developed into use for general residential, general institutional, and parks and recreation.

Casanova said the long-term lease period is 25 years commencing on the signing of the contract, and renewable for another 25 years upon mutual agreement of the parties.

For her part, Nena Radoc, BCDA chairperson of the Asset Disposition Program Committee, said the lease payments for the first three years shall be P93-million inclusive of 12-percent value-added tax, and payable in advance upon contract signing.

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