12 firms keen on Fort Bonifacio property

MANILA, Philippines - Property giants San Miguel Properties Inc., Ayala Land Inc. and Robinsons Land Corp. and nine others have expressed interest in bidding for the development of the P6.55-billion government-owned property in Fort Bonifacio.

In a statement, the Bases Conversion Development Authority (BCDA) said that 12 real estate developers have expressed interest in the 34.5-hectare military-owned property south of Forth Bonifacio in Taguig.

Aside from the three, other firms were Filinvest Land Inc., Century City Development Corp., Megaworld Corp., Nuvoland, Rockwell Land Corp., Jones Lang La Salle Leechiu, IPM Realty and Development Corp., the Rufino Group and JTKC Land, Inc.

The property whose development is up for bidding is a portion of the 93-hectare so-called JUSMAG (Joint United States Military Advisory Group) property on Lawton Avenue that is bounded by the Philippine Army Headquarters, the American Battle Monument cemetery, the National Mapping Resources Information Authority and Forbes Park.

BCDA vice president Aileen Zosa said the entire property is 35.5 hectares but the area subject for disposition under the BCDA’s Asset Disposition Program comprises 34.5 hectares with the remaining one-hectare area allocated for civic or institutional use.

Zosa noted that the maximum allowable gross floor area for the said property is 1.383 million sq.m.

The BCDA pegged the floor price of the lot at P19,000 per square meter or a total of P6.555 billion.

The 12 firms will have to submit eligibility requirements by Jan. 14,2010 before the BCDA declares which ones can participate inn the bidding, Zosa said. Proposals from those eligible will be due on March 3, she said. Awarding of the contract will likely be in April.