Bidders air interest in Marcos crony properties – PCGG

MANILA, Philippines - At least 14 interested parties have expressed interest in purchasing properties sequestered from a crony of the late strongman Ferdinand Marcos shortly after the publication of the invitation to bid, the Presidential Commission on Good Government (PCGG) said yesterday.

PCGG Commissioner Richard Amurao, chairman of the PCGG bids and awards committee for privatization, said he was very pleased with the interest shown on the properties previously owned by former National Bureau of Investigation director Jolly Bugarin.

The PCGG did not provide details on the identities of the prospective bidders.

Amurao expressed confidence the PCGG will receive competitive bid offers during the public auction in September.

The forfeited properties include a house and lot in North Greenhills, San Juan City with a lot area of 727 square meters, another house and lot in Valle Verde III, Pasig City with an area of 721 square meters, and a 582-square meter lot in BF Homes Subdivision at Barangay Holy Spirit, Quezon City.

The floor prices for the properties are set at P60,743,000 for the Greenhills property, P45,471,000 for the Valle Verde property and P8,148,000 for the BF Homes, Quezon City property.

Amurao said the public auction is scheduled on Sept. 1 for the Greenhills and Valle Verde properties and Sept. 2 for the BF Homes, Quezon City property.

He said bid documents are available until July 25.

“The titles of the properties, which the Supreme Court declared in August 2012 as forfeited in favor of the government, are already in the name of the Philippine republic,” Amurao emphasized.