MANILA, Philippines - State-owned Bases Conversion Development Authority (BCDA) announced it is extending the deadline for real estate developers who would like to challenge the P20 billion proposal of Sy-owned SM Land Inc. (SMLI) for the development of a 33.1-hectare military lot in South Bonifacio.
In a statement, BCDA executive vice-president Aileen R. Zosa said the extension will give BCDA, the Department of National Defense and the Armed Forces of the Philippines to resolve certain issues on relocation and replication of facilities located in the subject properties, among others.
BCDA has extended the deadline for the submission of eligibility documents from Nov. 19, 2010 to Oct. 20, 2010.
This is the second time the deadline was extended. The original deadline was set at Sept. 20 but there was a request by a firm during the pre-eligibility conference to extend the deadline to give more time to gather requirements from government offices.
The 33.1-hectare area up for bidding is composed of lands presently occupied in part by the Army Support Command and Special Services Unit of the Philippine Army and in part by the Bonifacio Naval Station and Philippine Marine Corps of the Philippine Navy.
Under the Bonifacio South master plan, the said area would be developed into a medium to high-density residential and mix use complex, with a strong institutional component and has a maximum allowable gross floor area of 1.355 million sq.m.
The property is located along Lawton Avenue and is separated from the JUSMAG property by the NAMRIA area and a six-hectare strip of land retained by the Philippine Army.