Nichols Loop auction fails, says BCDA

Another bidding will be set for the Bases Conversion and Development Authority’s (BCDA) Nichols Loop property as the Wednesday auction failed due to lack of participants, according to an official of the state-owned corporation.

“It was a failed bidding. We will republish the bidding soon,” BCDA vice president for operations Dean Santiago said in a text message.

Santiago said three companies bought bid documents. Of the three, only one, which the official did not identify, submitted a bid in time for the Aug. 22 deadline.

The Nichols property that was bid out comprised the 5,005-square meter (sqm) driving range and the 5,389-sqm Nichols Loop in Pasay City.

Bids were to start at P89.59 million.

The property can be developed to house a school, hospital or a government office, BCDA executive vice president Aileen Zosa said in an earlier interview.

Also on the auction block are the 3,099-sqm Eastgate parking facility, which is valued at P122.41 million, in Bonifacio Global City (BGC) in Taguig City, and the 1,224-sqm, P28.76-million Sampaguita East Ramp lot in Fort Bonifacio.

The Eastgate parking facility is fit for institutional use while the Sampaguita property can accommodate a mixed-use (residential, commercial, institutional) development.

The BCDA also plans to seek bids for a 1,000-sqm property in BGC, which is fit for institutional use.

The BCDA has yet to finalize the valuation of the property.

Bigger properties, for which the BCDA can rake in P12 billion, may be bid out as well, once approved by the Office of the President, BCDA president Arnel Paciano Casanova said earlier.