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After 3 failed bids, gov't to try and sell FTI anew

Iris Gonzales | The Philippine Star | June 19, 2012



Photo by PMO

MANILA, Philippines - After three years of delay and three failed biddings, the government will attempt to sell again the sprawling Food Terminal Inc. (FTI) property in Taguig City, the Privatization Management Office (PMO) said yesterday.

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The 103-hectare FTI agro-industrial complex is one the largest industrial complexes in Metro Manila and is currently home to more than 300 companies.It provides industrial and commercial lots for medium-to-long term leases, and industrial buildings with standard-sized stalls for office, warehouse or small-scale processing operations. Of the 103-hectare property, the government will bid out 74 hectares, Singson said.
 

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Bidding for FTI complex rescheduled

ABS-CBNnews.com | Thursday | Posted at 08/02/2012 3:27 PM | Updated as of 08/02/2012 3:27 PM

MANILA, Philippines - The government rescheduled the public bidding of the Food Terminal Inc. (FTI) complex in Taguig City to August 14, the Privatization and Management Office (PMO) said. In a statement, PMO said the bidding was rescheduled from August 8 to August 14 to accommodate some investors' requests to extend the due diligence period.

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Some of the biggest property developers in the country are said to be interested in bidding for the FTI complex. These include Robinsons Land Corporation, Empire East Land, Ayala Land Incorporated, Rockwell Land Corporation, Century Properties Group Incorporated, SM Land Incorporated and Filinvest Land Incorporated.
 
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diba sa paligid nito madaming i.s :D
Di lang IS but huge muslim community. I once made a mistake of going there with an acquaintance. We were like near the big mosque there. We parked the car and decided to walk trying to find an address. Suddenly a group of kids saw us and noticed that we are outsiders, one of them drew his pistol out and aimed it at us. Di naman pinaputok pero nakangisi lang sila. Nakakatakot. Di na ako babalik dun.

Anong I.s? Flood-prone ba any area? And the only entry point is via east service road?
Maraming roads going in and out of there, yun lang most of the roads are within IS communities. Kaya doble ingat pag dadaan dun.
 

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Robinsons pursues FTI asset

by Jenniffer B. Austria | MANILA STANDARD TODAY | Monday | Posted on August 13, 2012 | 12:01am

Robinsons Land Corp., the real estate unit of conglomerate JG Summit Holdings Inc., said it will aggressively bid for 74 hectares of the 103-hectare Food Terminal Inc. complex which the government is set to sell in an auction Tuesday.

Robinsons Land president Frederick Go said in an interview at the sidelines of the National Retailers Conference the company would participate in the public auction of the government property. “Yes we will be submitting a bid,” he said.

Go said the company was seeking to transform the property into a mixed-use project with retail, office and residential developments.

Robinsons Land now has 32 shopping malls all over the country, including the newly opened Robinsons Magnolia located along Aurora Boulevard corner Hemady Street in Quezon City.

Robinsons Land, however, is expected to face strong competition from other real estate firms that also wanted to develop the FTI complex.

The government’s Privatization and Management Office said the public auction of 74 hectares of the 103-hectare agro-industrial complex Food Terminal Inc. in Taguig City is all set on Aug. 14, after it was postponed by almost a week to allow bidders more time to evaluate other information about the property.

The PMO said its bids and awards committee would start the bidding at 9 a.m. with a brief review of the bidding procedures that would benefit the media, public sector observers, and bidders who did not attend the pre-bid conference on July 20.

“However, bidders are aware that all clarification should already have been submitted to the PMO BAC five calendar days before the Aug. 14 bid submission deadline,” PMO chief Karen Singson said.

Singson said in pursuant to the bidding rules, auction participants would have until 11:30 a.m. Tuesday to submit their proposals to the PMO BAC in Makati City. These documents will be immediately opened after the deadline of submission.

PMO said for the sale of the FTI complex, the government will use a two-envelope bidding procedure where bidders were required to submit their technical proposal separate from their price proposal.

Singson advised participants to synchronize their watches with the PMO clock and to send their duly authorized representatives to attend and witness the bid proceedings.

The public auction of the FTI will be held at AIM Conference Center Manila in Makati City.

Last month, Singson said the sale of the industrial complex would finally push through after seven property developers qualified for the auction.

The bidders that will try to outbid each other include Robinson’s Land, Empire East Land, Ayala Land Inc., Rockwell Land Corp., Century Properties Group Inc., SM Land Inc. and Filinvest Land Inc.

The government is looking to sell the parcel of the industrial estate at a floor price of P10.2 billion, lower than the P12-billion valuation of the property. Proceeds of the sale would go to the Comprehensive Agrarian Reform Program and the Agriculture Department.

The government has been trying to sell the FTI complex since 2009. Previous attempts, however, resulted in failed biddings.

FTI is a 103-hectare agro-industrial commercial estate that was originally built to be a food processing and consolidation center for agricultural products. It houses more than 300 small-to-medium scale companies engaged in different industries such as manufacturing, garments and electronics.

The PMO said of the 103-hectare property, it would bid out only 74 hectares. The remaining parcels will be used for other purposes.

Currently in the works is the Integrated Bus Terminal, a joint project of the Transportation and Public Works departments, which will be allotted five hectares within the complex. With Maria Bernadette Lunas

Source: http://manilastandardtoday.com/2012/08/13/robinsons-pursues-fti-asset/
 

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7 property giants expected at tomorrow's FTI bid

by The Philippine Star | Monday | Updated August 13, 2012 | 12:00 AM

MANILA, Philippines - The bidding for the Food Terminal Inc. (FTI) property in Taguig will proceed tomorrow, the Privatization and Management Office (PMO) said over the weekend.

The public bidding will be held at the Asian Institute of Management (AIM) in Makati City.

The bidding was originally scheduled for Aug. 8 but the PMO decided to move the date to Aug. 14 to give interested parties more time to prepare their offers.

“Per bidding rules, the bid boxes shall open for the submission of bids at 10 a.m. and close at exactly 11:30 a.m.,” the PMO said.

The bids will be opened immediately after the bid boxes close. Bids submitted after this will be returned, the PMO also said.

The government is bidding out 74 hectares of the 103-hectare FTI property.

Seven of the country’s biggest business groups are vying for the agro-industrial estate, which is up for bidding for a minimum price of P10.2 billion.

The potential bidders are the Gokongwei owned Robinson’s Land Corp., Andrew Tan’s Empire East Land, Ayala Land Inc., the Lopezes’ Rockwell Land Corp., the Sy family’s SM Land Inc., Andrew Gotianun’s Filinvest Land Inc. and Century Properties Group Inc., owned by the family of Amb. Jose Antonio.

The government had tried but failed to bid out the FTI property, with the Arroyo administration even lowering the floor price to P7 billion to P8 billion. One valuation pegged the value of the property at P12 billion.

The last attempt to auction FTI was in 2009 when private companies snubbed a public bidding for the property.

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

The 103-hectare FTI agro-industrial complex is one the largest industrial complexes in Metro Manila and is currently home to more than 300 companies.

It provides industrial and commercial lots for medium-to-long term leases, and industrial buildings with standard-sized stalls for office, warehouse or small-scale processing operations.

With the sale, the government expects economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improves.

The Aquino administration hopes to sell the property at a price higher than the tab set by the previous government for the agro-industrial estate.

Source: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=837414
 
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Ayala Land tops bids for FTI property
InterAksyon
http://www.interaksyon.com/business/40402/ayala-land-tops-bids-for-fti-property

MANILA - Ayala Land Inc. has topped the bidding for the Food Terminal Inc. property in Taguig City. The real estate firm has until January 31, 2013 to pay up.

During Tuesday's auction of the 74-hectare property, ALI submitted the highest bid of P24.33 billion, followed by Robinsons Land Corp. at P14.66 billion and Empire East Holdings at P11.2 billion.

Early in the day, Filinvest Land Inc. announced their bid withdrawal for the FTI property, citing concerns over the value of the subject lot to the company's land bank strategy as well as to its financial projection of the property's return on investment.
 

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3cr said:
Ayala Land tops bids for FTI property
InterAksyon
http://www.interaksyon.com/business/40402/ayala-land-tops-bids-for-fti-property

MANILA - Ayala Land Inc. has topped the bidding for the Food Terminal Inc. property in Taguig City. The real estate firm has until January 31, 2013 to pay up.

During Tuesday's auction of the 74-hectare property, ALI submitted the highest bid of P24.33 billion, followed by Robinsons Land Corp. at P14.66 billion and Empire East Holdings at P11.2 billion.

Early in the day, Filinvest Land Inc. announced their bid withdrawal for the FTI property, citing concerns over the value of the subject lot to the company's land bank strategy as well as to its financial projection of the property's return on investment.
Great! Are we looking at alveo, avida, Amaia or perhaps a premier brand development.

Or another marquee mall in the making with residential developments..
 

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Ayala Land tops bids for FTI property
InterAksyon
http://www.interaksyon.com/business/40402/ayala-land-tops-bids-for-fti-property

MANILA - Ayala Land Inc. has topped the bidding for the Food Terminal Inc. property in Taguig City. The real estate firm has until January 31, 2013 to pay up.

During Tuesday's auction of the 74-hectare property, ALI submitted the highest bid of P24.33 billion, followed by Robinsons Land Corp. at P14.66 billion and Empire East Holdings at P11.2 billion.

Early in the day, Filinvest Land Inc. announced their bid withdrawal for the FTI property, citing concerns over the value of the subject lot to the company's land bank strategy as well as to its financial projection of the property's return on investment.
:banana:
 

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so, what's the development plan for FTI?
may mga townhouses kaya or house and lot? hehe
Ayala to turn FTI property into new business district
Agence France-Presse
Posted at 08/14/2012 6:58 PM | Updated as of 08/14/2012 7:11 PM
MANILA - The real estate arm of Philippine conglomerate Ayala Corp. said Tuesday it planned to create another major business district in Manila after casting the highest bid for a government property.
Ayala Land offered P24.33 billion ($579 million), more than two other real estate firms, for the Food Terminal industrial estate, the company and government officials said.
The 74-hectare (183-acre) property is located near major government highways and will become "the southern gateway" to Manila, Ayala Land said.
The company will develop the area in a manner similar to the upscale housing, office, hotel and shopping mall projects it has set up in other parts of the capital and across the country, Ayala Land spokesman Jorge Marco said.
"It's going to be another business district and it will have all our product lines: residential, retail, office and hotels," he said.
Ayala Land's bid exceeded the floor price of P10.2 billion for the property, said Melinda Cortez, marketing chief of the government's privatization office.
She described it as the biggest government privatization effort in years.
However the government's economic ministers must still study the bid for 60 days to see if it meets all financial and legal qualifications before declaring Ayala Land the winner, Cortez added.
The estate, formerly a major government food processing facility, is now an industrial estate where warehouses, offices and stores are already operating.
The Philippine government tried to sell off the facility in 2009 but failed to attract enough bidders.
:)

http://www.abs-cbnnews.com/business/08/14/12/ayala-turn-fti-property-new-business-district
 

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excited to hear this and the development they will do in this area.

di ko actually nararting to pero narining ko ng aabout yun mga I.S. and yun muslim community dito kaya natakot rin ako dumaan dito :eek:hno:
 

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Ayala Land tops bids for FTI property
InterAksyon
http://www.interaksyon.com/business/40402/ayala-land-tops-bids-for-fti-property

MANILA - Ayala Land Inc. has topped the bidding for the Food Terminal Inc. property in Taguig City. The real estate firm has until January 31, 2013 to pay up.

During Tuesday's auction of the 74-hectare property, ALI submitted the highest bid of P24.33 billion, followed by Robinsons Land Corp. at P14.66 billion and Empire East Holdings at P11.2 billion.

Early in the day, Filinvest Land Inc. announced their bid withdrawal for the FTI property, citing concerns over the value of the subject lot to the company's land bank strategy as well as to its financial projection of the property's return on investment.
ALI 24.33B
RLC 14.66B
Emp 11.2B

typo lang ba to o talagang halos double ung bid ng ALI?
 
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