The Bases Conversion and Development Authority (BCDA) is considering a minimum bid price for Bonifacio South at P45,000 to P50,000 per square meter, 28 percent higher than the rejected offer of SM Land Inc.
The property is at the southern side of Bonifacio Global City is between Newport City and McKinley West and near posh Forbes Park.
BCDA president and chief executive officer Arnel Casanova said the government will enter into a joint venture with the winning bidder for the 33.1-hectare property in the former military facility to benefit from a booming real estate market.
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