Outbids Robinson’s Land
By Amy R. Remo
Philippine Daily Inquirer
Posted date: September 02, 2009
MANILA, Philippines -- Megaworld Corp. has submitted the highest bid to develop the state-owned 8.28-hectare North Bonifacio lots in Taguig City, with an offer of P3.1511 billion, the Bases Conversion and Development Authority said on Wednesday.
BCDA said its board approved on Wednesday the matching offer of Megaworld, which bested the bid of rival Robinsons Land Corp. of P3.1507 billion for the development of the North Bonifacio lots.
According to BCDA vice president Aileen R. Zosa, Megaworld shall be "declared as the winning private sector participant for the joint venture development of North Bonifacio lots if and only if Megaworld passes the post-qualification stage."
Post-qualification evaluation consists of verification of documents submitted and representations made by Megaworld for the selection process pursuant to the Terms of Reference for the competitive challenge.
BCDA will conduct the post-qualification evaluation within this week and is expected to announce the results on Sept. 9, according to Zosa.
Megaworld improved its bid late last month from the initial offer of P2.7891 billion or about P33,283.88 per square meter, which it submitted early this year through an unsolicited proposal.
According to the BCDA, RLC's proposed upfront cash was slightly higher at P1.11 billion compared to the P1.062 billion of Megaworld.
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