BCDA awards Nichols property to construction firm

MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) has awarded the development of the driving range lot and Nichols property in Pasay City to businessman Simon Paz.

“We awarded it (development of driving range lot and Nichols property) to Simon Paz last week,” Nena Radoc, BCDA vice president and chief finance officer, said in an interview.

She said Paz’s offer of P92 million for the development of the 5,005 square meter (sqm) driving range lot and 5,389 sqm Nichols loop was higher than the P89.59 million floor price.

The BCDA received two proposals for the development of the assets.

The driving range lot and Nichols property have been designated for institutional use.

Paz is the president and chief executive officer of Expedition Construction Corp., a firm engaged in construction and real estate.

Apart from the development of the driving range lot and Nichols property, Paz has also been declared the winning bidder for two other properties in Taguig City put to auction by the BCDA earlier.

The first property is the 3,099 sqm Eastgate parking facility.

Paz offered P190.76 million for the Eastgate parking facility, 56 percent higher than the P122.41 million floor price, and more than two other proposals submitted to develop the property.

The Eastgate parking facility is suitable for institutional use.

Paz will also be developing the 1,224 sqm Sampaguita East Ramp lot after offering P47.55 million, 65 percent above the P28.76 million minimum bid price and beating other bidders.

The Sampaguita East Ramp lot is suitable for residential, commercial and institutional use.

For next year, the BCDA is set to conduct the bidding for the 33.1-hectare Bonifacio South Pointe in Taguig City.

The property, which is located along Lawton Ave. is occupied by the Army Support Command  and  Special  Services  Unit of the Philippine Army, the Bonifacio  Naval Station and the Philippine Marine Corps of the Philippine Navy.