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SSS property attracts only 1 bidder

By: - Reporter / @bendeveraINQ
/ 01:21 AM December 05, 2015

Gotianun-led property developer Filinvest Land Inc. was the lone company that was keen on the long-term lease of the Social Security System’s (SSS) properties near Manila Bay’s fast-rising gaming hub.

According to the SSS, Filinvest Land was the sole bidder for the HK Sun Plaza property, which covers a 44,000-square meter warehouse and the adjacent 6,000-square meter vacant lot located at the Financial Center Area along Macapagal Avenue and Roxas Boulevard in Pasay City.

The minimum rental rate bid is P16 million per month for the 25-year lease period, including a six-month fit-out period, the SSS earlier said.


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

Filinvest Land’s bid will be opened on Dec. 7 at the SSS head office in Quezon City.

The SSS was also selling 59 commercial lots at the Manila Harbour Center in Tondo.

The minimum bid price for all of the lots, which will be auctioned off in seven blocks and 12 parcels, amounts to more than P1.5 billion.

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

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 will also auction off 17 more lots with a combined area of 46,922 sq m in Bulacan and Davao City worth a total of over P262.7 million.

In this round of auction, the biggest lot for sale is the 23,135-square meter property in Barangay Ibayo, Marilao, Bulacan. The minimum bid price for the Bulacan lot is more than P133.6 million.


Also to be sold are 16 lots located at Villa Josefina Town Center, Dumoy, Toril, Davao City. These lots have a combined land area of 23,787 square meters, whose total value was almost P129.1 million.

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TAGS: bidding, Business, filinvest, sss property
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