Ayala Land wins bid for state-owned FTI Complex  

Property developer Ayala Land Inc. on Tuesday won the bidding for a chunk of government’s Food Terminal Inc. property in Taguig City for P24 billion.   Publicly listed Ayala Land beat rivals Robinson’s Land Inc. of the Gokongwei Group and Andrew Tan’s Empire East.   Only three of seven companies interested in the property filed their sealed bids in time for Tuesday’s 11:30 a.m. cut-off set by the Privatization and Management Office (PMO).   Ayala Land made P23.889-billion bid for 74 hectares of the commercial and industrial estate, or more than double the floor price of P10.2 billion. Robinson’s Land made a P14.66-billion bid, Empire East’s was P11.2 billion.   Ayala Land has 60 business days to settle the P19.465-billion upfront payment. The balance is payable in one year.   Last December, the Ayala group also won the Aquino administration’s P2-billion Daang Hari South Luzon Road Deal, the first infrastructure project under the public-private partnership program that actually took off.   “We are very happy,” PMO chief Karen Singson told reporters after bidding was concluded at the Asian Institute of Management in Makati City.   “The upfront cash is something the government can take comfort [in],” she added.   She said that 60 percent of the money from the sale will go to the Department of Agrarian Reform and 40 percent to the Department of Agriculture.   The 108-hectare FTI complex is one the largest in Metro Manila, with more than 300 companies using it as a base for operations.   Companies that bought the bid documents but did not join the bidding were the Lopez's Rockwell Land Corp., the Sy family’s SM Land Inc., Andrew Gotianun’s Filinvest Land Inc., and Jose Antonio’s Century Properties Group Inc. — VS, GMA News