MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) intends to bid out contracts for properties amounting to a total of P75 billion this year.
“The contracts are either for land sale or lease, which for the latter means cash flow will come in a staggered manner,†BCDA president and chief executive officer Arnel Paciano Casanova said in a press briefing yesterday.
He said among the contracts the BCDA wants to bid out this year is the 33.1-hectare Bonifacio South Pointe in Taguig City, valued at P36.3 billion.
The bidding for Bonifacio South Pointe has been halted after the Supreme Court issued a temporary restraining order in January last year following a petition filed by SM Land Inc.
Apart from Bonifacio South Pointe, Casanova said the BCDA also plans to bid out the contract for the development of 1,300 hectares of Clark Green City amounting to P26.3 billion, as well as the development of the 16-hectare Poro Point worth P2 billion.
“We are just waiting for the approval of President (Aquino) for the Clark Green City, then we can bid it out,†he said.
The Clark Green City project would involve the development of the Clark Freeport and Special Economic Zone to become a more attractive location for investments.
As for the 16-hectare Poro Point, the BCDA wants it to be developed into a mixed use area.
The BCDA, likewise, wants to conduct the bidding for other Metro Manila camps covering 7.2 hectares valued at P3.5 billion, and lots in other special economic zones covering 12 hectares worth P6.87 billion.
Casanova said the BCDA is also helping the Armed Forces of the Philippines and Department of National Defense in the privatization or development of parts of Camp Aguinaldo and other military camps.
“We intend to engage a master planner for that within the first half of the year,†he said.
As for the earlier announced plan to improve and upgrade the San Fernando Airport in La Union, Casanova said Netherlands-based Rebel Group International has been engaged as master planner for the project.
The development of the airport would be offered for bidding under the government’s Public-Private Partnership program.
“By middle of 2015, we will have financial closing of the project,†he said.
As for the monorail project that would connect the Guadalupe station of the Metro Rail Transit to Bonifacio Global City in Taguig City and Terminal 3 of the Ninoy Aquino International Airport and other business districts in Metro Manila, he said the Japan International Cooperation Agency has started to conduct the feasibility study.
The BCDA is mandated to transform former military bases into alternative civilian use.
Last year, the BCDA recorded cash inflows of P6.022 billion, up from the P5.172 billion in 2012.
The collections came from resolution of problematic accounts, successful negotiations of lease payments, disposition of properties and payments of dividends from subsidiaries.
BCDA Asset Disposition Program Committee chair Nena Radoc said in the same event the BCDA expects to have cash inflows amounting to P6.5 billion this year.