SSS sells Fort property for P2.33B
MANILA, Philippines – Local property firm Clark Quay Holdings Inc. won the bid for the 8,300-square meter prime property of state-run pension fund Social Security System (SSS) in Bonifacio Global City.
Clark Quay's P2.33-billion bid bested the offers of 4 other groups, according to Jose Bautista, chairman of SSS' Acquired Assets Disposal Committee, on Tuesday, October 8.
This is 4.12% above the P2.242-billion minimum bid price set by SSS.
“Clark Quay Holdings is the winner,” Bautista told reporters. His committee will issue the Notice of Award on Tuesday.
“The committee will issue notice of award today. Within 10 days, they need to pay the full payment,” he said. Clark Quay has paid a 10% deposit.
Six companies previously joined the pre-bidding conference. These were Ayala Land Inc. of Ayala Corporation, Gokongwei-owned Robinsons Land Corporation, Key Land Corporation, Santiago and Santiago Law Office and Jones Lang LaSalle.
SSS bid out a vacant lot commonly known as Block 56 along Mckinley Parkway between the 10th and 11th avenues and near commercial areas such as Market! Market!, Bonifacio High Street, and the newly-opened SM Aura mall.
The pension fund acquired the property through a dacion en pago agreement with Bonifacio Land Corporation, which owed SSS P1.5 billion years ago. – Rappler.com