BCDA eyes P7B from sale of 5 properties
The Bases Conversion Development Authority (BCDA) expects to earn over P7 billion next year as it disposes five more properties, a ranking official said.
In a press conference, BCDA president Narciso Abaya said the BCDA is looking at getting P7.275 billion for the sale of its properties within the former military base.
Among the properties up for sale are the expanded big delta lots, Villamor driving range, North Bonifacio Lots, NCBD Lots and the PA SEG.
The expanded big delta lots has an area of 12,036 square meters. Projected revenues for the expanded big delta lots are P1.93 billion as BCDA pegged a P160,000 per square meter minimum bid requirement.
To sell the property, BCDA is considering either a sale or a joint venture project. If the property is sold, BCDA expects to be fully paid within six months.
The expanded delta lot can be used for medium to high density mixed use development which may include commercial, recreational, residential and institutional uses.
The expanded delta lot has already been bidded out twice but the two attempts to sell the land failed.
The Villamor Driving range meanwhile, has an area of 13,000 square meters. Projected revenue is P195 million.
The
This lot is being eyed by the Chinese Shimao Group for a possible luxury hotel. BCDA said the property will undergo a competitive selection process called the Swiss challenge.
The NCBD lots will earn P3 billion for BCDA. The 67,000 square meter lot has a value of P80,000 per square meter.
The last is the PA SEG. When sold, the 21,463 square meter property will bring in P150.24 million.
Meanwhile, as of October, revenues of BCDA amounted to P38.2 billion.
Majority of the earnings or 80 percent came from the sale of lots in
Of the entire earnings, almost half or 43 percent went to the Armed Forces of the Philippines (AFP) for its modernization program and military replication.
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