Clark Quay stands alone in P2B bid for SSS asset

Clark Quay Holdings Inc. has become the lone contender for the prime property that the Social Security System has put up for sale.

According to SSS president Emilio de Quiros Jr., the state pension fund is now in the process of reviewing the documents submitted by Clark Quay.

He said the SSS would announce on Oct. 7 whether it would grant the sale of its over P2-billion property in Fort Bonifacio Global City to the real estate company.

“We are now just reviewing their documents, checking the authenticity of its BIR registration, etc.,” De Quiros told the Inquirer.

Clark Quay was the only company that submitted a bid on Sept. 17, the deadline set by the state pension fund for the submission of bids.

Clark Quay submitted a bid of P2.33 billion, a little over the floor price set at P2.24 billion.

Net Group Property Development Corp.—the other company that qualified to participate in the sale—did not submit a bid.

Other companies that had earlier expressed interest in the property by purchasing terms of reference for the bidding were Jones Lang La Salle, Keyland Corp., Ayala Land Corp., Robinsons Land Corp. and Santiago and Santiago Law Offices.

Keyland, Robinsons, Net Group and Clark Quay submitted pre-qualification documents. But the first two were later disqualified.

The SSS has put up for sale a parcel of land measuring 8,300 square meters. It is located in Bloc 56 at the corner of 25th Street and 10th and 11th Ave.

The property up for sale was acquired by the SSS in 2003 for P850 million.

Once the parcel is sold, the pension fund would work on selling its other property assets, the SSS said earlier.

The SSS said it would also consider joint ventures with private companies in developing some of its property assets.