PSALM’s Pampanga property draws interest from 3 firms

MANILA, Philippines — Three companies have expressed interest in a prime Pampanga property to be auctioned off by the Power Sector Assets and Liabilities Management Corp.(PSALM).

In a statement, PSALM said United Ascent Holdings Inc., Panasia Energy Inc. and Pan Pacific Renewable Power Philippines Corp. joined the pre-bid conference last Thursday for the sale of a 50,447-square meter lot in Mexico, Pampanga.

“This pre-bid conference gave prospective bidders the opportunity to clarify issues and concerns they may have on the terms of the sale,” PSALM said.

The state-run company earlier set the minimum bid price for the property located in Barangay Lagundi at P803 million.

“This is a prime real property of PSALM, in a good location with a clean title. It can be utilized for various commercial purposes. PSALM is selling this property on an ‘as-is-where-is’ basis,” PSALM president and CEO Irene Besido Garcia said.

PSALM said the location of the property is best suited for commercial land development as it is highly accessible via the North Luzon Expressway, Subic-Clark-Tarlac Expressway, MacArthur Highway and Jose Abad Santos Avenue.

The property is in close proximity to community centers like schools, hospitals and major shopping malls, which will allow the new owner to redevelop the area for wholesale and retail stores, shops and supermarkets.

“The area is also projected to benefit from the planned Manila-Clark Railway system which will be completed by the last quarter of 2021,” PSALM said.

Bid submission deadline is on Oct. 20, 2 p.m., after which the opening of bids will immediately commence.

This will be held at PSALM’s office at the 24th Floor, Vertis North Corporate Center 1, North Avenue, Quezon City.

Proceeds of the sale will be used to augment collections needed to settle PSALM’s financial obligations.