SSS property gets P2.33B offer

The Social Security System received an offer of P2.33 billion for its 8,300-square-meter property in Fort Bonifacio, Global City.

Clark Quay Holdings, a Filipino entity, made the offer. It was one of the two companies that participated in the public bidding for the SSS property on Sept. 17.

The property consists of four parcels of land located south of Forth Bonifacio.

Clark Quay’s  offer was P90 million more than the P2.24 billion minimum bid price set by the SSS.

The other eligible bidder,  Net Group, reportedly did not submit a cash bid as required in the bidding rules.  Instead, it reportedly offered to negotiate for the amount it  would pay for the property.

Seven firms had earlier expressed interest in the property, with four submitting the required eligibility documents, namely: Clark Quay, Keyland Corp., Robinsons Land and the Net Group.

Upon review of the pre-qualification documents, however, RLC and  Keyland were disqualified, which left Clark Quay and the Net Group as the only eligible bidders.

The SSS, however, has yet to formally announced the results of the public bidding, the process of which was started in July this year.

Based on the master plan and guidelines issued by Fort Bonifacio Development Corp., the SSS property  was suited for  a mixed-use commercial and residential development.