FAVORED PROJECT The Bases Conversion and Development Authority recommends Metro Pacific Tollways Corp.’s unsolicited proposal to build a 13-kilometer elevated road connecting the North and South Luzon Expressways.
MANILA, Philippines – The Supreme Court stopped the Bases Conversion Development Authority (BCDA) from bidding out the P13.3-billion property in Bonifacio South area in Taguig City.
“The Court resolved to issue a temporary restraining order enjoining respondents or any of their representatives or agents from proceeding with the bidding process subject of its ‘invitation to bid’…and in any way disposing of the subject lot which acts tend to render the Court’s resolution of the petition ineffectual, effective immediately until further orders from the Court,” the high court’s third division released Friday said.
At the same time, the high court gave the BCDA up to January 21 to submit their comment on SM’s petition.
The resolution was issued upon the petition filed by SM Land Inc., the original project proponent for the development of the property.
SM took the case to the Supreme Court after BCDA opted to dispose of the 33.1-hectare property through a public bidding.
BCDA said they have not yet awarded the contract to SM.
BCDA believed that the offer of SM Land for P36,900 per square meter was too low for the prime property as nearby areas were now fetching between P70,000 and P80,000 per square meter.