THE BASES Conversion and Development Authority (BCDA) is seeking bidders for a 5,000-square-meter institutional lot worth P168 million in Pasay City. In a bid notice published in newspapers on Monday, the state-run agency said it is “inviting interested parties to bid for the 5,000-square-meter lot 5A Villamor Driving Range, on cash and as-is where-is basis.”

The minimum bid is P168 million, inclusive of 12% value-added tax, the notice added.

The BCDA is the agency entrusted with the management and sale of former military lands.

BCDA Asset Disposition Committee Head Nena D. Radoc said the property is classified as an “institutional area, which can be [developed into] school, government office, for sports, culture, or place of recreation.”

The property is bounded on the northwest by the Philippine State College of Aeronautics, on the northeast by the South Luzon Expressway, on the south by a privately owned vacant lot, and on the west by an access road servicing the schools within the vicinity.

Interested bidders may purchase the terms of reference for a non-refundable fee of P75,000 at the BCDA Corporate Center in Bonifacio Global City.

A pre-bid conference will be held on Aug. 7 at 10:00 a.m. at the BCDA office.

The agency expects to bid out more than 1,000 hectares of land this year covering lease contracts worth about P75 billion.

In 2013, the BCDA generated P6.022 billion in revenue, up P850 million from a year earlier, due to the agency’s “efficient collection, resolution of problematic accounts, successful negotiations of lease payments, successful disposition of properties, and payment of dividends from subsidiaries.”

For 2014, the agency aims to generate P6.5 billion in revenue.

Source: http://www.bworldonline.com/content.php?section=Corporate&title=Villamor-driving-range-floor-price-set-at-P168M&id=91272