Gov’t looking for developers of RP properties in Japan

The government is seeking more bidders to develop four idle properties in Tokyo and Kobe, Japan under a build-operate-transfer scheme, the Department of Finance said yesterday.

The DOF said its bids and awards committee (BAC) for Japan properties has already published the invitations to bid, and 13 prospective bidders have expressed interest with more anticipated to join in before the deadline on Sept. 30.

A preliminary conference for prospective applicants is scheduled today and the department is hopeful that bidding can be completed by this year.

Under the plan, developers of the properties will be able to build structures and then operate and lease out space there until the contract ends, after which the properties will revert to the Philippine government free of charge, the department said in a statement.

The Tokyo properties are expected to be developed for mixed residential and diplomatic use.

The department gave no estimate for the likely value of bids.

Finance Undersecretary Eric Recto said the BAC has also appointed the engineering consultancy group of TCGI Engineers-Yoshi Kankyo Kentiku Sekkei Co. Ltd. to help the Philippines maximize the development of the properties.

The group will prepare the design parameters for the consular offices and ambassador’s residence as well as conduct market appraisals for the properties and preparation of the bid documents.

The Arroyo administration committed last year to Filipino World War II veterans that the government will sell assets in Japan to fund their retirement benefits which have not received budgetary allocations so far.

The DOF has been studying several ways to dispose of the assets in Japan, and even considering whether it was advisable to auction them at a time when Japan is economically unstable.

After closing a joint-venture deal for the Roponggi property, the government still has four real estate assets in Japan: two in Tokyo, one in Kobe and one in Osaka.

One of the Tokyo properties is currently the official residence of the Philippine ambassador and the other is the former location of the Philippine embassy in Nampeidai in Shibuya ward. The Philippine embassy is now in Roppongi in Minato ward. — Des Ferriols. AFP