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Gokongwei property development arm Robinsons Land Corporation (RLC) formally submitted its proposal to bid for Bases Conversion Development Authority's (BCDA) 8.38-hectare north Bonifacio property settled on Kalayaan road.

Robinsons Land aforesaid its P3.15-billion bid proposal was a considerable improvement over the uninvited supply of Megaworld Corporation that amounted up to P2.78 billion.

The BCDA antecedently declared 3 assets corporations eligible to challenge Megaworld's bid. The corporations embody RLC, Ayala Land Incorporated. (ALI) and Filinvest Land Incorporated. (FLI).

As of last Friday's submission point in time, RLC was the only real property firm ready to submit all the technical and monetary proposals to challenge Megaworld's supply.

Megaworld are going to be given till August twenty eight to submit their counter proposal to RLC's supply.

After comprehensive analysis, which is able to be entirely supported the costs planned, one in every of the 2 property corporations are going to be elite as BCDA's venture partner in developing and privatizing the North Bonifacio heaps settled within the refined Taguig development.

Robinsons Land declared its want to develop the property into a mixed-use complicated with residential and workplace parts and a support retail element.

The competitive challenge procedure that was declared last June eleven once Megaworld's proposal to bid was effectively conducted in line with the National Economic and Development Authority (NEDA) venture pointers.

Megaworld's uninvited supply was accepted by the BCDA last April. Aileen Zosa, BCDA vp, aforesaid Megaworld submitted associate uninvited proposal last year and went through detail negotiations with the agency.

Its supply enclosed the valuation of the North Bonifacio heaps at P33,283.88 per centare (sq.m.), and also the mixed-use development of the property at a value of P15.6 billion. Megaworld will deposit P700 million as direct partial payment. (JAL)