State-run Bases Conversion and Development Authority (BCDA) is seeking offers to lease and develop a 3,099-square-meter lot at the Bonifacio Global City (BGC), said to be the country’s fastest growing central business district.
In a notice, the BCDA said the so-called Eastgate property, near international schools and the Market! Market! mall at the BGC, had been zoned for general institutional use.
“Among possible facilities that the property can be developed into are: art gallery; clinic/polyclinic; concert hall; government office; library; place of recreation, sports or culture; school gymnasium; and school auditorium, just to name a few,” BCDA President and CEO Arnel Paciano D. Casanova said in a statement on Tuesday.
Winning bidders must also put up a public parking facility.
Casanova said the country’s armed forces would benefit from the bidding of the lot, as a significant share of the lease proceeds would go to the AFP Modernization Fund as provided under RA 7227 or the Bases Conversion and Development Act of 1992.
According to BCDA, the Eastgate property will be leased out for an initial period of 15 years, at a minimum acceptable starting annual lease of P10 million, which includes a 12-percent value added tax.
The lease will also be subject to a 5-percent annual escalation.
The winning proponent will be required to pay in advance the annual lease for the first three years.
The BCDA said interested bidders may purchase the terms of reference (TOR) for the Eastgate bidding up to March 4, for a nonrefundable fee of P75,000.
A pre-bid conference will be held on March 4 to allow prospective bidders to discuss their concerns and clarifications on the Eastgate property and the bidding process.
For 2014, BCDA targets to bid out five properties valued at about P75 billion.
Some will be sold outright while others will be offered for long-term lease and development.
These properties include the Clark Green City, which may fetch an estimated P26.3 billion in revenue for the government for the development of 1,300 hectares; Bonifacio South Pointe (33.5 ha), valued at P36.3 billion; Poro Point (16 ha); P2 billion; various Metro Manila camps (7.2 ha), P3.5 billion; and other special economic zones (12 ha), P6.87 billion, Casanova reported.
In terms of gross proceeds from existing leases, the BCDA expects to collect some P6.5 billion this year, up from the P6.022 billion collected last year.
Compared to 2012, last year’s collections reflected an increase of P850 million, due largely to the state agency’s “efficient collection efforts and resolution of problematic accounts.”