BCDA wants foreign investors in on Bonifacio South Point devt

To lure foreign investors in bidding for a 33-hectare property in Taguig City, the state-run Bases Conversion and Development Authority said it is running ads in international newspapers starting Friday, Dec. 21.

 

The point is to get the best value for the property with a minimum bid price of P3.2 billion, BCDA president and CEO Arnel Paciano Casanova told reporters in a briefing Monday.

 

"Just like what we did to Fort Bonifacio Global City, we are eying a 55-45 partnership with the winning bidder, with the private sector in charge of the capital expenditure for land development," he said.

 

The notice will be published three times in an international publication and twice in a Philippine publications, said Nina Radoc, BCDA bidding committee chief.

 

BCDA wants to bid out the property – to be called Bonifacio South Point – next February, saying it should fetch P54,000 per sqm up front.

 

With the Philippines having the confidence of investors, the timing is just right, said BCDA executive vice president Aileen Zosa.

 

The property now is now being used by the Bonifacio Naval Station, Philippine Marine Corps, and Army Support Command.

 

Once the bidding is completed, the Navy will transfer to an another location in Taguig City, the Marines to Camp Riego de Dios in Cavite, and the Philippine Army to Camp Aquino in Tarlac, said BCDA vice president for business development Dean Santiago. — VS, GMA News