MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) said it will bid out one of its prime lots in Bonifacio South.
BCDA Officer-In-Charge Aileen An. R. Zosa said they are optimistic the public bidding of the Lawton Corporate Center lot will attract interest from propetry developers.
The 5,000 square meter property is located along Lawton Avenue and is between the National Mapping and Resource Information Authority (NAMRIA) and McKinley West. McKinley West is a joint-venture project of BCDA and Megaworld.
"We are optimistic and expect this property to draw a lot of interest from top real estate developers because of its strategic location and proximity to various high-end commercial and residential areas like Bonifacio Global City, McKinley, Forbes Park, and Newport City, including the NAIA III," she said.
Zosa said the BCDA is planning to widen Lawton Avenue from the existing dual-two lane road to a dual-three lane road, as traffic is increasing in the area due to various developments.
"This will augur well for the planned development in the Lawton Corporate Center Lot and its neighboring areas," she said.
The BCDA is currently finalizing the Terms of Reference (TOR) for the disposition of the said lot. The official bidding process would likely start by the first or second week of May.
BCDA Manager for Business Development Arrey Perez said the mode of disposition Lawton property will be through a 25-year lease renewable for another 25 years. The Floor Area Ratio (FAR) is 12 or a maximum 60,000 square meters of gross floor area.
"Among the possible developments that could be done in the property are commercial/retail and offices/BPO,” Perez said.