The government has embarked on its first privatization venture this year through the sale of 79 lots in Mindanao previously owned by Al-Amanah Islamic Investment Bank of the Philippines worth a total of P138 million.
The deadline for the submission of bids for 33 parcels of land in Buhangin and Talomo districts in Davao City is March 28, according to the invitation to bid published by the Privatization and Management Office (PMO).
For 29 lots in Davao City’s Baguio, Calinan, Toril and Tugbok districts, the deadline is March 29.
For the 17 other lots in Digos and Tagum, Davao del Sur as well as in Makilala, North Cotabato, the deadline is March 30.
“These real and other properties acquired (ROPA) of the bank were conveyed to the government in 2008. PMO was appointed the disposition entity,” chief privatization officer Toni Angeli V. Coo said.
Under the bidding rules, the assets will be sold on a per lot and on an “as-is, where-is” basis. Coo said a bidder could submit offers for more than one lot.
The bidding package, which includes the asset specific bidding rules as well as the specific catalogue will be available at the Davao City branch of Amanah Islamic Bank starting Feb. 22.
Interested parties who bought the bidding package may conduct due diligence audit also beginning Feb. 22.
The highest qualified financial bids for the lots will still be subject to the approval of the interagency Privatization Council.
Last week, the Privatization Council gave its go-ahead to sell a number of public assets, including P658 million worth of so-called “Hawaii Jewelry” that belonged to former First Lady Imelda Marcos.