BIR to auction off former IBC property in QC, other assets

SSS holding own bidding for P134M worth of condo units
By: - Reporter / @bendeveraINQ
/ 02:08 AM August 22, 2016

THE SOCIAL Security System (SSS) will dispose of condominium units worth a total of at least P134 million in Parañaque City.

Separately, the Bureau of Internal Revenue (BIR) will bid out on Sept. 8 a total of 50 properties it had seized and absolutely forfeited from taxpayers that did not pay their dues, the biggest and most expensive of which had belonged to state-run Intercontinental Broadcasting Corp. (IBC).


Documents on the BIR website showed that the 5,000-square meter lot seized from IBC, located along Capitol Hills Drive, Matandang  Balara, Capitol, Quezon City, has a minimum bid price of P408.2 million.

Also to be sold on an “as is, where is” basis are 34 other seized pieces of property in Bataan, Bulacan, Metro Manila, Pampanga and Rizal, as well as 15 forfeited properties in Bataan, Metro Manila and Rizal.


State-run pension fund SSS, meanwhile, is inviting interested bidders for 19 condominium units, which each has two appurtenant 13-sq m parking slots, as well as 17 extra parking slots located in Bella Villa One Condominium at No. 5 Hamburg Street, Merville Park, Barangay Merville, Paranaque City.

Up for sale are seven condominium units at Andalucia building (minimum bid prices ranging from P5.3 million to P6.1 million); eight at Barcelona building (P6.9 million to P8.7 million), and four at Cataluna building (P6.9 million to P8.7 million).

The four smallest condominium units have an area of 134 sq m each with a minimum price of P5.3 million while the three biggest units each with a floor area of 223.47 sq m will be sold for at least P8.7 million.

The 17 extra parking slots with an area of 13 sq m each all have a minimum bid price of P450,000.

The terms of reference for the “as is, where is” sale of the condominium units and parking lots will be made available to interested bidders at the SSS’s Quezon City office from Aug. 15 to Sept. 30.

The deadline for submission of eligibility documents as well as sealed bids with bid deposits is on Oct. 6.

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TAGS: auction, Bureau of Internal Revenue, Business, economy, IBC-13, News
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