The Bases Conversion and Development Authority (BCDA) has opted to dispose of an upscale property in Taguig City via an open competitive bidding, instead of engaging in a “Swiss Challenge.”
BCDA president and CEO Arnel Paciano D. Casanova said it would be “more advantageous” for the government to conduct open bidding for its land assets and “unlock” the value of the property to real estate developers.
The state corporation said that it has informed the original proponent, SM Land Inc. (SMLI), of the change in proceedings, and invited SMLI to participate in the open bidding for the Bonifacio South property.
Taken from:
http://business.inquirer.net/82004/bcda-opts-for-open-bid-in-sale-of-taguig-lot
Jonas Montemayor
Real Estate Broker
PRC License #: 0007396
Member: Philippine Association of Real Estate Boards – City of Taguig Real Estate Board
