MANILA, Philippines – State-owned Bases Conversion and Development Authority (BCDA) is set to bid out the lease and development of a prime property covering 5,000 square meters (sqm) in the Bonifacio South area in Taguig City.
BCDA executive vice president Aileen Zosa said in a statement yesterday the property to be put to auction, the Lawton Corporate Center Lot, is located along Lawton Avenue and is between the National Mapping and Resource Information Authority and McKinley West, a joint-venture project of BCDA and Megaworld Corp.
“We are optimistic and expect this property to draw a lot of interest from top real estate developers because of its strategic location and proximity to various high-end commercial and residential areas like Bonifacio Global City, McKinley, Forbes Park, and Newport City, including the NAIA (Ninoy Aquino International Airport) III,” she said.
She added that the plan to widen Lawton Avenue from the existing dual two lane road to a dual three lane road to address the increased traffic volume would augur well for the planned development in the Lawton Corporate Center Lot.
BCDA business development manager Arrey Perez said the firm is finalizing the Terms of Reference and other bid documents for the property.
“We plan to officially start the public bidding process by the first or second week of May,” he said.
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He said an invitation for the bidding of the property would be published in newspapers.
The BCDA plans to lease the property for 25 years, renewable for another 25 years.
The property’s floor area ratio is 12 or a maximum 60,000 sqm of gross floor area.
“Among the possible developments that could be done in the property are commercial or retail and offices or BPO (business process outsourcing),” Perez said.
The BCDA is mandated to transform former US military bases into alternative productive civilian use.
Since its creation in 1992 until last year, the BCDA has generated P60.21 billion from the disposition of former camps. Of the said amount, P25.36 billion has been remitted to the National Treasury to support the Armed Forces of the Philippines.
