STATE-RUN pension fund Social Security System (SSS) has sold one block composed of 11 lots at the Manila Harbour Centre in Tondo district for P264 million.
In an e-mail, SSS media affairs department manager Maria Luisa P. Sebastian said the Social Security Commission (SSC) last Jan. 25 approved the sale of Block 13, which has a total area of 7,113.07 square meters (sqm), to MG8 Terminal Inc.
Of three bidders, MG8 Terminal was the only one that submitted complete eligibility documents last December.
“The buyer has paid the balance of the bid price last Feb. 24,” Sebastian said.
The sale of another piece of land, Block 17, was “still under confirmation and approval of the SSC,” she said.
The SSS had tried to dispose of 59 commercial lots in Tondo—divided into seven blocks and 12 parcels covering over 45,000 sqm—worth more than P1.5 billion.
It also plans to sell 48 condominium units in Mandaluyong City worth a total of over P352 million in April.
Early this year, the SSS declared a failure of bidding for properties in Bulacan and Davao City.