MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is inviting interested firms to submit bids for the long-term lease and development of the 5,000-square meter (sqm) property in the Bonifacio South area in Taguig City.
In a notice posted on its website, the state-run firm said it is looking for bidders for the Lawton Corporate Center along Lawton Avenue located south of Bonifacio Global City, near the McKinley West development of MegaWorld Corp. and the National Mapping and Resource Information Authority (NAMRIA).
The property would be leased for a period of 25 years, and renewable for another 25 years.
Interested firms would need to submit a bid covering the first 14 years of the lease, payable upon the signing of the contract.
“The minimum acceptable bid shall be P560 million, inclusive of 12 percent value-added tax (VAT),†the BCDA said.
On the 15th year, the lease would be set at P50 million, inclusive of 12 percent VAT, subject to an annual escalation rate of three percent, and payable in advance on or before the anniversary date.
“In lieu of lease renewal, the lessee has the option to purchase the property based on its fair market value upon the expiry of the initial lease period,†the BCDA said.
“Among the possible developments that could be done in the property are commercial or retail and offices or BPO (business process outsourcing),†BCDA business development manager Arrey Perez said earlier.
Firms interested in the bidding may purchase the Terms of Reference (TOR) for the subject property at the BCDA Corporate Center in Taguig City for a non-refundable fee of P100,000 until June 6.
The TOR may also be viewed at the BCDA website www.bcda.gov.ph.
The pre-bid conference would be held on May 20, at the BCDA Corporate Center. Created in 1992, the BCDA is mandated to transform the former US military bases into alternative productive civilian use.
Since its creation until last year, the BCDA firm has generated P60.21 billion from the disposition of former camps and remitted P25.36 billion to the National Treasury for the Armed Forces of the Philippines.