2 groups vie for SSS prime Fort property
MANILA, Philippines - Two out of the original 6 bidders were prequalified to vie for the Bonifacio Global City property that pension fund Social Security System (SSS) is auctioning off.
Jose Bautista, chairman of the Acquired Assets Disposal Committee of the state-run SSSS, declined to name the two bidders since he was not authorized to disclose the identities yet.
Six companies earlier joined the pre-bidding conference: Ayala Land Inc., Gokongwei-owned Robinsons Land, KeyLand Corporation, Santiago and Santiago Law Office, Jones Lang LaSalle, and Clark Quay Holdings Inc.
"The bids are now undergoing post qualification, correctness and authenticity of documents," Bautista said, adding that the bids were submitted and opened on September 17.
From September 26 to October 3, SSS has to make a recommendation to the Commission for the declaration of the winning bidder. The winner will be declared on October 7.
The pension fund is selling the 8,300 square meter property for a minimum bid price of P2.24 billion.
The vacant lot for sale is commonly known as Block 56, located along Mckinley Parkway between the 10th and 11th Avenues and near commercial areas such as the Market! Market! Bonifacio High Street and the newly-opened SM Aura.
The SSS acquired the property through payment-in-kind arrangement with the Bonifacio Land Corp. for latter's payment for its P1.5 billion debt. - Rappler.com