MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is looking for interested bidders for the development a 52,225-square-meter (sqm) prime lot into a commercial complex in Fort Bonifacio.
“The BCDA is inviting interested bidders to bid for the long-term lease and development of the approximately 52,225 sqm Pamayanang Diego Silang PDS commercial lots at Brgy. Ususan, Taguig City on an ‘as-is, where-is’ basis,†BCDA Asset Disposition Program Committee chair Nena Radoc said in a bid notice posted on the state-run firm’s website yesterday.
The property is located along Circumferential-5 (C-5) Road and Levi Mariano Avenue.
Given a number of residential condominium developments within the immediate vicinity, Radoc said the property is considered a prime location for the development of a commercial complex.
She said that for the first three years of the lease, the winning bidder would be entitled to a concessional lease amount of P93 million, inclusive of 12-percent Value-added Tax (VAT).
The payment for the first three year lease should be made upon signing of the contract.
On the fourth year, the minimum annual fixed lease or bid has been set at P53 million, inclusive of 12-percent VAT, based on a Gross Floor Area (GFA) of 37,000 sqm or lower.
For any GFA developed in excess of 37,000 sqm, the winning bidder would have to an additional lease equivalent to 70 percent of the average lease per sqm as of the year of completion of the additional GFA.
The fixed lease for the fourth year would be payable in advance on or before the third anniversary of contract signing.
The succeeding annual fixed lease would be subject to five percent escalation every three years and payable on or before the anniversary date.
Interested bidders may purchase the Terms of Reference (TOR) for the bidding of the property now until August 30, at the BCDA Corporate Center located in Bonifacio Global City for a non-refundable fee of P100,000.
Interested firms may likewise view the TOR in the BCDA website at www.bcda.gov.ph.
The BCDA has scheduled a pre-bid conference to present the TOR and address inquiries from interested bidders about the property on August 30, at the BCDA Corporate Center.