FTI area in Taguig city up for sale again

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FTI is one of the largest industrial lots in Metro Manila, currently hosting more than 300 firms. Its buildings can accommodate offices, warehouses and small-scale processing operations.

The property lies near the Bicutan Interchange,the Fort Bonifacio overpass and southeast of EDSA.

"We expect economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improve," Ms. Singson said.

The government has tried to privatize FTI since 1990, offering leases, negotiated sales and outright sales of sections or the entire property. It held public auctions in 1990, 1997, 2008 and 2009.

The latest bidding in 2009 failed after the deadline for the submission of offers lapsed without any bids.

Sale plans were likewise scrapped in 2010 due to unfavorable market conditions amid the global financial crisis.

The Department of Finance revived efforts to privatize FTI again last year, but deferred the plan to 2012 as the government reappraised the property.

While Finance officials have since kept mum on the results of the reappraisal, previous valuations had priced the complex at about P12-13 billion.

Taken from:

http://www.bworldonline.com/content.php?section=TopStory&title=FTI-area-up-for-sale-again&id=53697

Posted by:

Jonas Montemayor
Real Estate Broker
PRC License #: 0007396

Please call: 926-74-20

Member: Philippine Association of Real Estate Boards – City of Taguig Real Estate Board

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