The Privatization and Management Office will finally hold the public bidding for the sale of the 74-hectare Food Terminal Inc. parcel at the PMO main office on August 8, which aims to generate a surge in economic activity in the area, improve transportation linkages and boost employment opportunities.

To launch the bidding process, all seven qualified bidders attended the pre-bid conference held at the FTI Main Office in Taguig last Friday where parameters of the sale such as the minimum target selling price and pre-qualification requirements were detailed.

Robinson’s Land Corp., Empire East Land, Ayala Land Inc., Rockwell Land Corp., Century Properties Group Inc., SM Land Inc., and Filinvest Land Inc. will outbid each other with the sale’s P10.2 billion floor price.

Bidders were also given bid packets detailing Asset Specific Bidding Rules to ensure a transparent and competitive bidding process. In its efforts to minimize delays to complete the transaction seamlessly, PMO will be conducting a workshop to help bidders prepare for the submission of Bid envelopes to prevent technical violations.

“Following the last failed bidding of the 103-hectare FTI Complex in October 2009, the government has been working diligently to design a plan that would optimize the use of the parcel,” PMO Chief Karen Singson said.

“PMO continues to coordinate with other government agencies to ensure that the privatization of FTI complements the broad array of infrastructure building and agriculture initiatives of the government,” Singson added.

The remaining parcels of the complex will be used for other various purposes. Currently in the works is the construction of an Integrated Bus Terminal under the Department of Transportation and Communication (DOTC) and the Department of Public Works and Highways (DPWH) which will be allotted five hectares of land in the said complex.

Proceeds of the sale will go to the Department of Agrarian Reform for the Comprehensive Agrarian Reform Program and to the Department of Agriculture.