BCDA bids out prime property along C-5

The state-owned Bases Conversion and Development Authority(BCDA) announced  that it is bidding out  a 5.2 hectare property  along the C-5 road  that is a prime location for the development of a commercial complex.

BCDA President Arnel Paciano D. Casanova said theBCDA is now inviting interested bidders to bid for the long-term leaseand development  of the 52,225-square-meter Pamayanang Diego Silang (PDS) CommercialLots at Brgy. Ususan, Taguig City.

“The Property is located along C-5 Road and Levi MarianoAvenue  with a  number of residential condominiumdevelopments within the immediate vicinity making the property a prime locationfor the development of a commercial complex,” Casanova said.

According to Casanova, the  long-term lease is for a period of 25 yearscommencing on the signing of the contract and renewable for another 25 years upon mutual agreement of the parties.

He said the property should bedeveloped in accordance with the Comprehensive Land Use Plan (CLUP) of theLocal Government of Taguig City. He noted that the property is classified as anUrban Core Zone (UCZ).

“Aside from general commercialuse, the property can be developed into general residential use, general institutionaluse,  and parks and recreation use,”Casanova said.

He noted that the UCZ, under theCLUP, is intended for compact and planned unit developments that provide forthe convenient proximity between workplace, home and amenities. Under UCZ,publicly accessible and functional open spaces are required for alldevelopments.

For her part, BCDA chairperson of the Asset Disposition Program Committee Nena D. Radoc said   he first three years of the lease shallbe a lease amount of PhP93 million inclusive of 12 percent Value-added Tax (VAT), and payable in advanceupon contract signing.

She said the minimum annual fixed lease for the 4th year (the bid) is  PhP53 million inclusive of 12 percent VAT,based on a Gross Floor Area (GFA) of 37,000 square meters or lower.

Radocsaid  that for any GFA developed inexcess of 37,000 sq.m., the winning bidder should also pay an additional leaseequivalent to 70 percent of the average lease per square meter as of the yearof completion of such additional GFA.

She added that the 4th year fixed lease shall be payable in advance on or beforethe 3rd anniversary of contract signing and succeeding annual fixed lease shallbe subject to five percent escalation every three years and payable in advanceon or before the anniversary date.

She said interested bidders may purchase the Terms of Reference (TOR) for thesubject bidding at the BCDA Corporate Center until 30 August 2013 for a non-refundable fee of PhP100 thousand  payable to BCDA in manager’s check. The TORmay also be viewed in the BCDA website at www.bcda.gov.ph.

A Pre-Bid Conference, in which the Property, the TOR, and inquiries frominterested bidders will be discussed, will be held on 30 August 2013, 10:00a.m, at the BCDA Corporate Center.