MANILA, Philippines - The government will attempt to sell its 74-hectare Food Terminal Inc. (FTI) property in Taguig on Tuesday, after three years of delay and failed biddings.
In a statement, the Privatization and Management Office (PMO) said the FTI public bidding will push through tomorrow (August 14). The original date of the bidding was August 8.
Some of the country's largest real-estate developers have earlier expressed their interest in the FTI property. These include Robinson's Land Corporation, Empire East Land, Ayala Land Inc., Rockwell Land Corporation, Century Properties Group, and Filinvest Land Inc.
The PMO bids and awards committee will have a brief review of the bidding procedure at 9 a.m. at the J.V. Del Rosario Bldg, AIM Conference Center in Makati City.
"However, bidders are aware that all clarifications should already have been submitted to the PMO BAC five calendar days before the August 14, 2012 bid submission deadline," PMO said.
The bid boxes will be open for submission of bids at 10 a.m. and will close at 11:30 a.m. The committee will immediately start opening the bids after the bid boxes are closed.
"Bidders are advised to synchronize their watches with the PMO clock, and to send their duly authorized representatives to attend and witness the bid proceedings. Per Bidding Rules, the absence of a bidder or its authorized representative shall be considered a waiver of the bidder's right to witness the public bidding," it said.