BCDA hopeful on amicable settlement with SM Group

MANILA, Philippines - State-owned Bases Conversion and Development Authority (BCDA) remains hopeful it will be able to iron out issues with the SM Group and even welcomes the Sy-owned conglomerate to do business in its properties in the future.

BCDA president and CEO Arnel Paciano Casanova said yesterday his group is open to amicably settle with the SM Group the ongoing disputes involving properties in Taguig City.

“We are still looking at SM being able to resolve this. It (amicable settlement) is a better solution. It’s actually a just, reasonable, legally justifiable, and morally acceptable solution. We welcome business in Bonifacio Global City and everywhere,” Casanova said.

BCDA and the SM Group collided when the former started its tussle with the Taguig City government involving a 3.4-hectare property in Taguig where the SM Aura mall stands.

Both parties also clashed when BCDA attempted to stop the SM Group’s proposal of a Swiss challenge for the 33.1-hectare Bonifacio South Pointe property.

“We are hoping that they see the reason and the wisdom of having these resolved because at the end of the day, it’s the country that would benefit or suffer,” Casanova said.

BCDA had asked the Supreme Court en banc to reconsider its Third Division ruling on the Bonifacio South Pointe property which sided on the unsolicited proposal of SM Land Inc. to develop the property based on a Swiss challenge instead of a competitive public bidding.