Six firms join pre-bid for SSS property in BGC


Six holding and real-estate consultancy firms expressed interest in participating in the sale through a public bidding of the 8,300 sq. meter Fort Bonifacio Global City (BGC) property of the Social Security System (SSS).
SSS Senior Vice President Jose B. Bautista, chairman of the SSS Acquired Assets Disposal Committee disclosed that the six companies that joined the pre-bidding conference included Ayala Land Inc. KeyLand Corporation, Robinsons Land, Santiago and Santiago Law Office, Jones Lang LaSalle, and Clark Quay Holdings Inc.
The SSS has opened the public bidding to both local and foreign investors to unlock the best value for Block 56, the SSS-owned property in BGC that consists of four lots. It is located along McKinley Parkway between 10th and 11th avenues near SM Aura.
“We want to be as transparent as possible in the sale of this property and at the same time get the best value for it,” Bautista said. “Thus, we are glad that several parties have expressed interest to ensure a competitive bidding,” he added.
According to Bautista, the discussion during the pre-bid conference went into taxes and technical restrictions of the sale. “We will soon be issuing a bid bulletin answering these concerns to those who purchased the terms of reference or TOR,” Bautista said.
Interested bidders can get the TOR, which outlines the requirements to apply for eligibility and participate in the public bidding until August 15, 2013.
“So far we have a good turnout of eager bidders and we are expecting more companies to signify their intention to bid for the lots before beginning the evaluation of bids received,” Bautista said
Bidders have until August 15, 2013 to complete their eligibility documents. The submission and opening of cash bids are set on September 4, 2013.
In a press briefing last July 1, SSS President and Chief Executive Officer Emilio S. de Quiros Jr. said the sale, which has a minimum bid price of P269,894 per square meter or a total price of P2.24 billion would translate to a gain of 163 percent or more than twice the property's dacion value. The SSS acquired the property through a dacion en pago agreement with the Bonifacio Land Corp., as the latter's payment for its P1.5 billion debt.

- SSS Media Affairs Department

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