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MANILA, Philippine – The Bases Conversion and Development Authority (BCDA) is now soliciting bids for the lease and development of a vacant lot in Bonifacio Global City.
BCDA President and CEO Arnel Paciano Casanova invited “interested bidders to submit bids for the lease and development of the Eastgate property and play a key role in the development of the country’s premier and fastest growing Central Business District.”
The Eastgate property is a 3,099-square meter property located at the Institutional Area of Bonifacio Global City. A significant share of the lease proceeds will go to the Armed Forces of the Philippines (AFP) Modernization Fund, pursuant to RA 7227 or the Bases Conversion and Development Act of 1992.
Casanova noted that, as the property is zoned for institutional use, the development on it should include a public parking lot.
He added, “Among possible facilities that the property can be developed into are: art gallery; clinic/polyclinic; concert hall; government office; library; place of recreation, sports or culture; school gymnasium; and school auditorium, just to name a few.”
Nena Radoc, chairperson of BCDA’s Asset Disposition Program Committee, said the Eastgate property will be leased out for an initial period of 15 years, renewable for an additional 10 years upon mutual agreement.
Radoc said, “The minimum acceptable starting annual lease for the property shall be P10 million, inclusive of 12% VAT and subject to a 5% annual escalation.” The winning bidder, she added, is also required to pay the annual lease in advance for the first 3 years.
Interested bidders may purchase the Terms of Reference (TOR) for the subject bidding at the BCDA Corporate Center, 2nd Floor Bonifacio Technology Center, 31st Street, Crescent Park West, Bonifacio Global City, Taguig City from February 17 to March 4 for a non-refundable fee of P75,000. The fee is payable to BCDA through manager’s check.
The TOR may be viewed online at the BCDA website beginning February 17.
Radoc also a pre-bid conference will be held tentatively on March 4, 10 am at the BCDA Corporate Center. The conference will discuss the property, the TOR, and inquiries from interested bidders. – Rappler.com
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