BCDA mulls options on Boni property offer

MANILA, Philippines - State-run Bases Conversion and Development Authority (BCDA) is studying actions it can take for the lifting of a temporary restraining order (TRO) issued by the Supreme Court on the bidding of the Bonifacio South Pointe property.

“Our legal team is studying and working on how we can have the TRO lifted,” Nena Radoc, BCDA vice president and chief finance officer said in a telephone interview over the weekend.

“We are looking at filing a motion for reconsideration,” she added.

She said the TRO was issued by the Supreme Court last week.

SM Land Inc. filed a petition for mandamus with the Supreme Court in November asking to proceed with its unsolicited proposal for the development of the Bonifacio South Pointe.

This was after the BCDA put aside the Swiss challenge for the unsolicited proposal of SM Land to develop the area and decided to conduct the bidding for the property, in line with a directive from the Office of the President.

In August 2010, real estate firms were asked to submit proposals to challenge the unsolicited proposal of SM Land for the property but the proceedings were put on hold with a review by Malacañang of the lease and other issues.

With a TRO issued for the bidding of the Bonifacio South Pointe, Radoc said the BCDA will have to comply with the high tribunal.

“We are suspending all activities related to the bidding in deference to the Supreme Court order,” she said.

In the meantime, interested bidders will not be allowed to purchase the terms of reference for the development of the property.

The BCDA said in the notice of invitation for the bidding of the property earlier that interested firms can purchase the documents from Jan. 3 until Feb. 15.

Radoc said that five firms have so far bought the terms of reference and they have been informed by the BCDA of the latest development.

She also said the BCDA will not push through with the pre-bid conference scheduled on Jan. 18 at the BCDA’s office in Taguig, unless the TRO would be lifted before that date.

“We are hopeful the Supreme Court will see the merits of our case. We’ll see what happens,” she said.

The 33.1-hectare Bonifacio South Pointe is located along Lawton Avenue, Fort Bonifacio in Taguig City.

The property is occupied by the Army Support Command and Special Services Unit of the Philippine Army, the Bonifacio Naval Station, and the Philippine Marine Corps of the Philippine Navy.

The BCDA is looking for interested firms to apply for eligibility and submit bids for a 55 percent share in an incorporated joint venture (JV) which will own and develop the property.

Interested firms must have a financial bid no less than P13.263 billion or $323.499 million.

The BCDA will hold a 45- percent share in the JV.