By Abigail L. Ho
Philippine Daily Inquirer, Friday, August 13, 2010
THE BASES Conversion and Development Authority is seeking
challengers to the unsolicited proposal of SM Land Inc.
for a joint venture to develop a 33.1-hectare property in
Bonifacio South.
The property up for development is composed of parcels of
land currently occupied by the Army Support Command (Ascom)
and Special Services Unit (SSU) of the Philippine Army and
the Bonifacio Naval Station (BNS) and Philippine Marine
Corps (PMC) of the Philippine Navy.
The Bonifacio South master plan provided for the development
of the BNS/PMC/Ascom/SSU area into a medium- to high-density
residential and mix-use complex, with a strong institutional
component and a maximum allowable gross floor area of 1.355
million square meters.
The entire property is located along Lawton Avenue, separated
from the Jusmag property by the National Mapping and Resource
Information Authority area and a six-hectare strip of land
retained by the Philippine Army.
In its unsolicited proposal, SM Land offered an upfront cash
payment of P2 billion upon the signing of the joint venture
contract with the BCDA.
It also committed secured yearly revenues amounting to P25.9
billion for 20 years or P36,900 per square meter.
Also, SM Land also offered to advance the funds needed to
replicate the military facilities that would be affected by
the development.
No amount has been set for this part of the venture, as the
BCDA was still determining the cost of the replication project.
SM Land’s proposal, however, was still subject to competitive
challenge under Annex C of the National Economic and Development
Authority Joint Venture Guidelines.
The BCDA expects yields from the Bonifacio South development to
be significantly higher than third-party appraisals of the property.
An appraisal done on the property last year placed its value at
only P8,000 per square meter, vis-à-vis SM Land’s offer of P36,900
per square meter.
Sunday, August 22, 2010
SM Land offers P20 billion for BCDA property
By BERNIE CAHILES-MAGKILAT
Manila Bulletin, Friday, August 13, 2010
SM Land Inc. has offered to invest P20 billion for the development
of the 33.1 hectare prime government property south of Fort Bonifacio
and a secured yearly revenues totaling P25.9 billion over a 20-year
period.
The state-owned Bases Conversion and Development Authority (BCDA)
Thursday announced that SMLI’s unsolicited joint venture proposal
would be subject to competitive challenge as required under Annex
C of the NEDA Joint Venture (JV) Guidelines.
SMLI’s proposal includes an upfront cash of P2 billion upon signing
of the JV contract and secured yearly revenues, totaling P25.9
billion for 20 years, for a present value of P36,900 per square
meter. Investment commitment of SMLI for the project stands at a
minimum of P20 billion.
The property is composed of lands presently occupied in part by
the Army Support Command (ASCom) and Special Services Unit (SSU)
of the Philippine Army and in part by the Bonifacio Naval Station
and Philippine Marine Corps of the Philippine Navy.
These lands were transferred and subsequently titled to BCDA for
disposition/sale pursuant to the BCDA charter (R.A. 7227), which
was passed into law in 1992 during the administration of President
Corazon Aquino. These lands are outside the areas earlier
identified by President Noynoy Aquino for long-term lease to
generate funds to augment the AFP Modernization budget in his
State-of-the-Nation Address (SONA).
BCDA said that SMLI shall advance the funds for and undertake the
replication of military facilities affected by the development of
the property. Final determination of the replication cost of
affected military facilities is currently being undertaken.
Under the BCDA law, bulk of the disposition proceeds from Fort
Bonifacio and Villamor Air Base goes to the AFP Modernization Fund
which urgently needs more cash infusions as well as the AFP
replication and relocation expenses.
As of December 31, 2009, BCDA has generated P46.495 billion in
disposition proceeds.
Manila Bulletin, Friday, August 13, 2010
SM Land Inc. has offered to invest P20 billion for the development
of the 33.1 hectare prime government property south of Fort Bonifacio
and a secured yearly revenues totaling P25.9 billion over a 20-year
period.
The state-owned Bases Conversion and Development Authority (BCDA)
Thursday announced that SMLI’s unsolicited joint venture proposal
would be subject to competitive challenge as required under Annex
C of the NEDA Joint Venture (JV) Guidelines.
SMLI’s proposal includes an upfront cash of P2 billion upon signing
of the JV contract and secured yearly revenues, totaling P25.9
billion for 20 years, for a present value of P36,900 per square
meter. Investment commitment of SMLI for the project stands at a
minimum of P20 billion.
The property is composed of lands presently occupied in part by
the Army Support Command (ASCom) and Special Services Unit (SSU)
of the Philippine Army and in part by the Bonifacio Naval Station
and Philippine Marine Corps of the Philippine Navy.
These lands were transferred and subsequently titled to BCDA for
disposition/sale pursuant to the BCDA charter (R.A. 7227), which
was passed into law in 1992 during the administration of President
Corazon Aquino. These lands are outside the areas earlier
identified by President Noynoy Aquino for long-term lease to
generate funds to augment the AFP Modernization budget in his
State-of-the-Nation Address (SONA).
BCDA said that SMLI shall advance the funds for and undertake the
replication of military facilities affected by the development of
the property. Final determination of the replication cost of
affected military facilities is currently being undertaken.
Under the BCDA law, bulk of the disposition proceeds from Fort
Bonifacio and Villamor Air Base goes to the AFP Modernization Fund
which urgently needs more cash infusions as well as the AFP
replication and relocation expenses.
As of December 31, 2009, BCDA has generated P46.495 billion in
disposition proceeds.
SM Land offers P48 B for dev't of Fort Boni lot
By Ma. Elisa P. Osorio
The Philippine Star Business, Friday, August 13, 2010
Henry SY-led SM Land Inc (SMLI) has offered nearly P48 billion to develop a 33.1-hectare lot south of Fort Bonifacio in Taguig City.
The Bases Conversion and Development Authority (BCDA)has called for counter-proposal to SMLI's unsolicited bid for the property occupied by the Philippine Army and Philippine Navy.
BCDA said interested developers will have to top SMLI's proposal to put out P2-billion upfront cash upon contract signing and remittances worth P25.9 billion over 20 years. SMLI will also be investing another P20 billion to develop the area, and has promised to advance the funds for relocating the military facilities.
Under the government's join venture rules for such "Swiss Challenges," SMLI will bag the contract if it can match the highest counter-offer.
The property is composed of lands presently occupied in part by the Army Support Command (ASCom) and Special Service Unit (SSU) of the Philippine Army and in part by the Bonifacio Naval Station and Philippine Marine Corps of the Philippine Navy.
Under the Bonifacio South master plan for the lot, the area would be developed into a medium-to-high-density residential and mix use complex, with a strong institutional component and has a maximum allowable gross floor area of 1.355 million sq.m.
BCDA is confident that the government will be able to take advantage of the strong real estate sector at present. The disposition will also answer in part the urgent need for funds for the AFP modernization program and other government projects.
The Philippine Star Business, Friday, August 13, 2010
Henry SY-led SM Land Inc (SMLI) has offered nearly P48 billion to develop a 33.1-hectare lot south of Fort Bonifacio in Taguig City.
The Bases Conversion and Development Authority (BCDA)has called for counter-proposal to SMLI's unsolicited bid for the property occupied by the Philippine Army and Philippine Navy.
BCDA said interested developers will have to top SMLI's proposal to put out P2-billion upfront cash upon contract signing and remittances worth P25.9 billion over 20 years. SMLI will also be investing another P20 billion to develop the area, and has promised to advance the funds for relocating the military facilities.
Under the government's join venture rules for such "Swiss Challenges," SMLI will bag the contract if it can match the highest counter-offer.
The property is composed of lands presently occupied in part by the Army Support Command (ASCom) and Special Service Unit (SSU) of the Philippine Army and in part by the Bonifacio Naval Station and Philippine Marine Corps of the Philippine Navy.
Under the Bonifacio South master plan for the lot, the area would be developed into a medium-to-high-density residential and mix use complex, with a strong institutional component and has a maximum allowable gross floor area of 1.355 million sq.m.
BCDA is confident that the government will be able to take advantage of the strong real estate sector at present. The disposition will also answer in part the urgent need for funds for the AFP modernization program and other government projects.
Saturday, August 21, 2010
Puerto Princessa massacre suspected nabbed
By Alexis Romero
Philippine Star, Friday, August 13, 2010
Police arrested a former helper, believed to behind the
massacre of retired Navy Lt. Commander Ernesto Paiton,
his wife, daughter and two other relatives in Puerto
Princessa, Palawan on Aug. 9.
Senior Superintendent Agrimero Cruz Jr., spokesman of
the Philippine National Police (PNP), said local police
apprehended Florencio Magada, 37, after his description
matched the information given by witnesses.
"Elements of Special Investigation Task Group picked up
Magada for questioning on Paiton killings," said Cruz.
In a police lineup, the suspect positively identified by
the witness as the one fleeing the crime scene wearing a
blue jacket and bloodied pants. Police recovered the blue
jacket in the possession of the suspect.
Police also recovered a khaki belt bag, bull cap, infant
shirt with blood stain, a blood stained white t-shirt and
two bolos measuring 23.4 inches and 21.7 inches.
Investigators will ask the Scene of the Crime Operatives
to get a swab from the bolo to check the presence of the
blood of the victims.
Cruz said other corroborative evidences are being gathered
for filling of the case in court for five counts of murder
for the killing of paiton, 59; his wife, Chief Petty Officer
Carmelita, 55; their daughter Erlita, 21; niece Sharon Cabatuan,
19; and nephew Renato Cabatuan, 17.
In a phone interview, Senior Superintendent Caesar Daniel
Miranda, Puerto Princessa City police chief, said magada was
arrested in his house in Barangay Bacungan, also in Puerto
Princessa at around 2 a. m. yesterday morning.
Aside from the massacre, Miranda said Magada has two standing
warrants of arrest for rape in relation with Republic Act 7610
or the anti-child abuse law, which also took place in the city.
The warrant was issued by judge Jose bayani Usman issued on Oct.
14 2009.
Miranda noted that they are still verifying if Magada committed
the crime alone or with an accomplice, including the driver of
the tricycle he used when he escaped.
Cruz said the suspect used to work as a caretaker of the farm of
Paiton, in Barangay Bacungan, for six years but was terminated
last year for still unknown reason.
"Since then he got angry with the victims. There was also
information that the suspect was seen sharpening his bolo," he
added.
For its part, the Philippine Navy welcomed the arrest of the
suspect behind last Monday's massacre in Puerto Prncessa.
"The Philippine Navy led by its Flag Officer-in-Command Rear
Admiral Danilo Cortez is comforted by the report that the suspect
was already apprehended by the police," Navy spokesman Lt, Col.
Edgard Arevalo said in a text message.
He said the murder of the Paiton couple and three others was
"gruesome" and calls for the giving of justice.
"We congratulate the members of the team led by the PNP for
the immediate resolution of the crime by bringing the purported
killer to the bar of justice," Arevalo said.
Philippine Star, Friday, August 13, 2010
Police arrested a former helper, believed to behind the
massacre of retired Navy Lt. Commander Ernesto Paiton,
his wife, daughter and two other relatives in Puerto
Princessa, Palawan on Aug. 9.
Senior Superintendent Agrimero Cruz Jr., spokesman of
the Philippine National Police (PNP), said local police
apprehended Florencio Magada, 37, after his description
matched the information given by witnesses.
"Elements of Special Investigation Task Group picked up
Magada for questioning on Paiton killings," said Cruz.
In a police lineup, the suspect positively identified by
the witness as the one fleeing the crime scene wearing a
blue jacket and bloodied pants. Police recovered the blue
jacket in the possession of the suspect.
Police also recovered a khaki belt bag, bull cap, infant
shirt with blood stain, a blood stained white t-shirt and
two bolos measuring 23.4 inches and 21.7 inches.
Investigators will ask the Scene of the Crime Operatives
to get a swab from the bolo to check the presence of the
blood of the victims.
Cruz said other corroborative evidences are being gathered
for filling of the case in court for five counts of murder
for the killing of paiton, 59; his wife, Chief Petty Officer
Carmelita, 55; their daughter Erlita, 21; niece Sharon Cabatuan,
19; and nephew Renato Cabatuan, 17.
In a phone interview, Senior Superintendent Caesar Daniel
Miranda, Puerto Princessa City police chief, said magada was
arrested in his house in Barangay Bacungan, also in Puerto
Princessa at around 2 a. m. yesterday morning.
Aside from the massacre, Miranda said Magada has two standing
warrants of arrest for rape in relation with Republic Act 7610
or the anti-child abuse law, which also took place in the city.
The warrant was issued by judge Jose bayani Usman issued on Oct.
14 2009.
Miranda noted that they are still verifying if Magada committed
the crime alone or with an accomplice, including the driver of
the tricycle he used when he escaped.
Cruz said the suspect used to work as a caretaker of the farm of
Paiton, in Barangay Bacungan, for six years but was terminated
last year for still unknown reason.
"Since then he got angry with the victims. There was also
information that the suspect was seen sharpening his bolo," he
added.
For its part, the Philippine Navy welcomed the arrest of the
suspect behind last Monday's massacre in Puerto Prncessa.
"The Philippine Navy led by its Flag Officer-in-Command Rear
Admiral Danilo Cortez is comforted by the report that the suspect
was already apprehended by the police," Navy spokesman Lt, Col.
Edgard Arevalo said in a text message.
He said the murder of the Paiton couple and three others was
"gruesome" and calls for the giving of justice.
"We congratulate the members of the team led by the PNP for
the immediate resolution of the crime by bringing the purported
killer to the bar of justice," Arevalo said.
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