PSALM to raise P803 million from Pampanga property

MANILA, Philippines — State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has set the minimum bid price for a prime land property in Mexico, Pampanga at P803 million.

In a statement, PSALM said it is selling its 50,447-square meter (5.447 hectares) land property in Barangay Lagundi, Mexico, Pampanga.

“The property has a clean title. Its location 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,” PSALM said.

It added that the property is in close to community centers like schools, hospitals and major shopping malls, which would 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 2 p.m.of Oct. 20, after which the opening of bids will immediately commence, according to PSALM.

“This will be conducted at the PSALM’s office at the 24th Floor Vertis North Corporate Center 1, North Avenue, Quezon City,”it added.

The state-run firm said it would hold a pre-bidding conference on Sept.24 to answer inquiries from interested parties and especially those pertaining to the terms of the sale.

Last week, PSALM said it held a pre-bid conference for the privatization of five small value real estate assets located in General Santos City, Loboc, Magdalena, Sudipen and Camalaniugan.

The 1,868-square-meter asset in General Santos City is near the shoreline of Calumpang and in close proximity to an industrial zone. The minimum bid price is P10.97 million

The Loboc property in the province of Bohol is composed of four lots with a total land area of 13,204 square meters. Its minimum bid price is P12.139 million.

Also up for bidding is the land in Magdalena, Laguna made up of 20 lots totaling 270,390 square meters with a minimum bid price of P27 million.

The property in Sudipen, La Union is composed of three lots with total area of 2,041 square meters and a minimum bid price of P3.17 million, while the 2,148-sqm lot in Camalaniugan, Cagayan has a minimum bid price of P3.2 million.

The deadline for the submission of bids is on Sept. 30.

#realestateblogph | #realestateblogphpropertynews | #REBPH

Article originally posted by PhilStar Global last September 23, 2020 12:00am and written by Catherine Talavera.