SSS selling 48 Mandaluyong condos worth P352M

AFTER failing to sell 17 properties in Bulacan and Davao City, the Social Security System aims to boost its revenues via the sale of 48 condominium units in Mandaluyong City worth over P352 million.

An invitation to bid published last week showed the state-run pension fund would sell on an “as-is, where-is” basis 48 condominium units as well as 50 parking slots located at Pioneer Highlands Condominium along Pioneer corner Madison streets.

The SSS would sell 17 residential condominium units with allotted parking at Pioneer West Highlands, which have a combined minimum bid price of about P161 million.

At Pioneer Madison Suites, 14 residential units and their respective parking slots would be offered. The minimum bid price was set at P82.7 million.

The SSS would also sell 12 office condominium units at Pioneer Corporate Center, all with parking lots. The minimum bid price was set at P76.5 million.

As for the five office units and parking lots at Globe Telecom Plaza, the combined minimum bid price was pegged at P32.5 million. The SSS would also be selling two tandem parking slots there worth at least P1.1 million.

Interested bidders may pay in cash or installment, the SSS said.

The terms of reference were made available last Friday. The deadline for submission of eligibility documents is on April 12.

Bid proposals will be opened on April 20 at the SSS main office in Quezon City.

This year, the SSS also plans to sell properties in Bella Villa One Condominium and Bayview Tower in Parañaque City, Pryce Center Condominium in Makati City, Pryce Tower Condominium in Davao City, E. Ganzon, as well as four houses in Urdaneta Village, Makati.

Documents obtained by the Inquirer showed SSS declared last month a failure of bidding for a 23,135-square meter (sq m) lot in Barangay Ibayo, Marilao, Bulacan. Warehouse buildings with a total floor area of 9,692 sq m sit on this lot.

The SSS said the bid proposal it received for the Bulacan property was below the minimum bid price of P133.6 million.

The SSS also declared a failed bidding for the 16 Villa Josefina lots in Davao City since there was no bidder.

These Davao lots have a combined land area of 23,787 sq m, with total value of over P129 million.