MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is set to award the lease and development of a 1,395 square-meter institutional property in Bonifacio Global City (BGC) in Taguig City to one of the country’s top universities next month.
“Within August, we should be able to award the property,†Nena Radoc, BCDA Asset Disposition Program Committee chair said in a telephone interview yesterday.
BCDA conducted the bidding Tuesday for the lease and development of the property intended for educational institutions.
Out of the three universities which bought bid documents, she said only one submitted a bid.
“That one bidder was able to meet the minimum bid price of P3.948 million set for the property,†she said.
She said the other educational institutions which purchased bid documents did not participate in the bidding as they wanted to lease and develop a bigger property.
“The universities said they need at least 2,000 square-meters. What we opened for bidding is a small lot,†she said.
While the lone bidder, which is one of the country’s top universities has met the minimum acceptable bid for the property, the BCDA still has to conduct evaluation and post-qualification of the submitted proposal.
“We have a policy that we cannot reveal the winner until we are done with the post-qualification and evaluation,†Radoc said.
The minimum acceptable starting annual lease for the property which is at P3.948 million, is subject to five percent annual escalation.
The winning bidder would be required to pay in advance the annual lease for the first four years.
The BCDA said earlier the winning bidder of the property would have a chance to be present in the most progressive and prestigious address in Metro Manila.
This, as the property offered to educational institutions is the last remaining vacant lot at the institutional area of BGC.