After 3 failed bids, gov't to try and sell FTI anew

MANILA, Philippines - After three years of delay and three failed biddings, the government will attempt to sell again the sprawling Food Terminal Inc. (FTI) property in Taguig City, the Privatization Management Office (PMO) said yesterday.

PMO Chief Karen Singson said the government intends to publish the invitation to bid by next week as she urged interested parties to place their bets.

“Everyone is invited to bid for the parcel. This is a straightforward property sale. Other parameters such as the minimum target selling price and prequalification requirements will be detailed at the bidding notice to be published on national newspapers,” she said.

The 103-hectare FTI agro-industrial complex is one the largest industrial complexes in Metro Manila and is currently home to more than 300 companies.

It provides industrial and commercial lots for medium-to-long term leases, and industrial buildings with standard-sized stalls for office, warehouse or small-scale processing operations.

Of the 103-hectare property, the government will bid out 74 hectares, Singson said.

The government will retain the rest of the property for various purposes.

“The government will study its options for the unprivatized special economic zone area located within the FTI complex, including the utilization of the same by the Department of Agriculture for food-sufficiency projects,” Singson said.

According to the PMO, part of the proceeds will go the Department of Agrarian Reform for the Comprehensive Agrarian Reform Program and to the Department of Agriculture.

With the sale, the government expects economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improves.

The Aquino administration hopes to sell the property at a price higher than the P7 to P9-billion tab set by the previous government for the agro-industrial estate.

Robinson’s Land has expressed interest in the property and so has the Ayala Group and Henry Sy’s SM Development Corp.

In 2009, private property developers snubbed a public bidding for the property, resulting in a failure of bidding.