BCDA names 12 bidders for Fort Bonifacio lot

The state-run Bases Conversion and Development Authority (BCDA) on Wednesday named the 12 firms that have expressed interest in developing a 34.5-hectare prime lot south of Fort Bonifacio in Taguig. Listed developers Ayala Land, Inc., Filinvest Land, Inc., Megaworld Corp., Robinsons Land Corp., and San Miguel Properties, Inc. were among those that purchased bid documents by the Dec. 14 deadline, the BCDA said in a statement. They were joined by Century City Development Corp., IPM Realty Land Development Corp., JTKC Land, Inc., Jones Lang La Salle Leechiu, Nuvoland, Rockwell Land Corp., and the Rufino group. Most of the 12 firms already have developments in the area: Ayala Land, IPM Realty, Jones Lang La Salle Leechiu, Megaworld, Nuvoland, Robinsons Land, and the Rufino group. Ayala Land, Megaworld, and Robinsons Land had said more developments in the area would complement their existing portfolios. Firms have up to Jan. 14 to submit eligibility requirements to participate in the auction, the BCDA said. Those declared eligible have until March 3 to submit proposals. The state agency had received an unsolicited proposal from Ayala Land last year but decided to go through a regular bidding instead of a Swiss Challenge — a process wherein Ayala Land would have won the contract if it could match the highest price among counterproposals. The lot whose development is up for bidding is a portion of the 93-hectare so-called JUSMAG (Joint United States Military Advisory Group) land on Lawton Avenue bounded by the Philippine Army headquarters, the American Battle Monument cemetery, the National Mapping and Resource Information Authority, and Forbes Park. BCDA said that of the 34.5-hectare area, only 20.76 hectares can be developed. The rest are reserved for open spaces, utilities, and the planned widening of Lawton Avenue. The floor price for bidding is at P19,000 per square meter, or P6.55 billion. — Jessica Anne D. Hermosa, BusinessWorld