Govt again attempts to sell FTI property

Privatization Management Office Chief Privatization Officer Karen Singson said Monday that the government will again attempt to sell 74 hectares of the 103 ha. Food Terminal, Inc. property in Taguig City. This is the fourth attempt at selling the property amid three years of delays and three failed biddings. The invitation to bid will be published by next week. 

 

"Everyone is invited to bid for the parcel. This is a straightforward property sale. Other parameters such as the minimum target selling price and prequalification requirements will be detailed at the bidding notice to be published on national newspapers," said Singson.

 

The Aquino administration hopes to sell the property at a price higher than the P7 to P9 billion price set by the previous government for the Food Terminal, Inc., or FTI, agro-industrial estate. 

 

According to the Privatization Management Office, or PMO, part of the proceeds will go to the Department of Agriculture and the Department of Agrarian Reform’s Comprehensive Agrarian Reform Program.

 

The government will retain the balance of the property, 29 ha., for various purposes

 

"The government will study its options for the unprivatized special economic zone area located within the FTI Complex, including the utilization of the same by the Department of Agriculture for food-sufficiency projects," Singson said.

 

With the sale, the government expects economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improves.

 

The 103-hectare FTI agro-industrial complex is one the largest industrial complexes in Metro Manila and is currently home to more than 300 companies.

 

It provides industrial and commercial lots for medium-to-long term leases, and industrial buildings with standard-sized stalls for office, warehouse or small-scale processing operations.

 

Robinson’s Land has expressed interest in the property along with the Ayala Group and Henry Sy’s SM Development Corp.

 

In 2009, private property developers snubbed a public bidding for the property, resulting in a failure of bidding. — DVM, GMA News