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SSS to bid out 59 Tondo lots

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SSS to bid out 59 Tondo lots

Pension fund expects to make P1.5B from disposal
By: - Reporter / @bendeveraINQ
/ 12:58 AM November 09, 2015

STATE-RUN pension fund Social Security System (SSS) is selling 59 commercial lots at the Manila Harbour Center in Tondo district.

The minimum bid price for all the lots—which will be auctioned off in seven blocks and 12 parcels—totals approximately P1.5 billion.

The 59 lots cover a total of more than 45,000 square meters.

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The most expensive piece of land for sale, worth P390.8 million, is composed of 15 contiguous lots located at block 20, with a total area of 10,562.18 square meters.

The SSS said it will accept cash as well as installment bids for the sale of the lots on an “as-is, where-is” basis.

The terms of reference will be available starting Nov. 9 until Dec. 11. The deadline for submission of eligibility documents is on Dec. 14. The opening of bids will be on Dec. 21, at the SSS headquarters in Quezon City.

The SSS is also bidding out a 25-year lease contract for its prime five-hectare property near Manila Bay’s fast-rising gaming hub.

For the property located at 8001 Financial Center Area along Roxas Boulevard and Macapagal Avenue in Pasay City, the minimum rental rate bid is P16 million per month for the entire lease period.

Last June, SSS president and chief executive Emilio S. De Quiros Jr. said “we know there is good development in that area due to Entertainment City, so land prices are going up,” hence they decided to keep the property instead of selling it.

The last day for submission of accomplished eligibility documents and lease bids for the Pasay property is on Dec. 1, after which the bids will be opened on Dec. 7.

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TAGS: Business, commercial lot, land, pension fund, property, Real Estate, SSS, Tondo
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