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BCDA ordered to honor BGC deal

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BCDA ordered to honor BGC deal

/ 08:51 AM September 06, 2014

The Supreme Court. INQUIRER FILE PHOTO

MANILA, Philippines—The Supreme Court has permanently stopped the Bases Conversion and Development Authority’s (BCDA) public bidding for the development of the 33.1-hectare Bonifacio South Pointe property at the upscale Bonifacio Global City in Taguig, favoring SM Land Inc.’s (SMLI) petition that impleaded the state firm for breaching an agreement to conduct a competitive challenge.

In a 26-page decision, the high court’s Third Division cited how BCDA’s failure to comply with its agreement with SMLI, which had offered an unsolicited proposal and agreed to subject this to a competitive challenge, might turn away investors interested in public-private partnerships.

The Aug. 13 decision released only yesterday made permanent the temporary restraining order the high court had issued in January last year after SMLI filed a petition for certioriari, prohibition and mandamus against BCDA.

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It also ordered the BCDA to push ahead with the competitive challenge, as SMLI had petitioned.

The ruling, penned by Associate Justice Presbitero Velasco Jr., noted how BCDA failed to honor its commitment with SMLI to conduct a competitive challenge that would exceed the real estate giant’s offer to develop the prime property. Tarra Quismundo

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TAGS: Bases Conversion and Development Authority, BCDA, Bonifacio Global City, SM Land Inc., SMLI, supreme court, Taguig
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