FTI complex for sale

[timrev]

FTI complex up for bidding this month

MANILA, Philippines - The bidding for the Food Terminal Inc. (FTI) property in Taguig City will finally begin this month after years of delay, according to the Privatization Management Office (PMO).
In a statement, PMO chief Karen Singson said the office plans to publish the invitation to bid notice by next week at the latest.
"Everyone is invited to bid for the parcel. This is a straightforward property sale. Other parameters such as the minimum target selling price and prequalification requirements will be detailed at the bidding notice to be published on national newspapers," she said,

FTI has long been in the list of properties up for privatization. The government had planned to sell it in 2009 and March last year, but was held back by unfavorable market conditions.
Several big property developers such as SM group, Megaworld Corp., Robinsons Land Corp., Ayala Land Inc., and Filinvest Land Inc. have expressed interest in the FTI agro-industrial commercial estate.
However, Singson said only 74 hectares of the 120-hectare property will be opened for auction. The remaining lots to be retained by the government for various purposes.
"The government will study its options for the unprivatized special economic zone area located within the FTI Complex, including the utilization of the same by the Department of Agriculture for food-sufficiency projects," Singson said.
Proceeds from the sale of FTI will go to the Department of Agriculture and the Comprehensive Agrarian Reform Program initiatives.
"We expect economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improves," Singson said.
The FTI Complex lies 2.4 kilometers north of the Bicutan Interchange, 2.3 kilometers southeast of the Fort Bonifacio overpass, and about 4.4 kilometers southeast of EDSA.
Top property developers remain keen on FTI | ABS-CBN News
Bidding for FTI complex rescheduled | ABS-CBN News

[greenlyt]

sayang yan FTI, maganda sana balak dyan dati, parang modern na divisoria

[Altis6453]

I'm betting it's another failure of bidding. The DOTC has reserved for its Integrated Bus Terminal Project a 5 ha. portion of the FTI property coming from the service road. You'll practically have no entrance coming from South Super Hi way as they said they won't provide a right of way coming from the bus terminal entering FTI.

[BratPAQ]

SM FTI anyone?

[CVT]

I hope it will push through this time... Sana lang minimal ang inconveniences when they develop the area...

16.5K:weathermanf3:

[timrev]

sa developer na makikipagbidd im sure my mall at condos jan...high end kaya...well better development parin yan...masmagiging maayos ang FTI
un 50% sana ng PNR ipa-bidd narin sana nila...

[CVT]

Not sure kung maraming mga Kababayan natin na Kristiyano at Muslim ang maapektuhan ng development na ito... Pero, sana ay maging maayos ang pag-uusap nila at walang maging kaguluhan,- kung apektado nga sila at paaalisin sa kinatitirikan nila...

Hindi katulad sa kabilang side ng Taguig BGC ngayon) na Military Base ang karamihan, - tama ba?....

16.5K:weathermanf3:

[timrev]

Ayala Land wins FTI property with P24.33B bid
Posted at 08/14/2012 2:50 PM | Updated as of 08/14/2012 4:12 PM

Ayala Land Inc. made the winning bid for the government's Food Terminal Inc. (FTI) property in Taguig City, offering P24.33 billion.
Ayala Land beat rival property firms Gokongwei-led Robinsons Land and Andrew Tan's Empire East. Ayala's bid was more than double the bids submitted by the 2 other companies, and exceeded the property's P10.2 billion floor price.
Gokongwei-led Robinsons Land made a P14.67 billion bid, while Andrew Tan's Empire East bid P11.2 billion.
Karen G. Singson, Privatization and Management Office (PMO) executive director said that Ayala Land's bid will still be subject to post qualification requirements.
"Post qualification process is just authentication and validation of documents. We're very happy with the result. The upfront cash of P19.465 billion is something the government can take comfort with," she said.
The upfront cash should be paid within 60 working days, while the remaining balance should be settled a year from the closing date.
"We don't really care with the nominal amount, we're more concerned with the net present value," Singson said. Ayala Land's net present value offer was P23.889 billion.
Proceeds from the sale of the FTI complex will go to Department of Agrarian Reform's Comprehensive Agrarian Reform Program and the Department of Agriculture.

Seven property firms were pre-qualified to make a bid for the FTI property, but only 3 submitted bids.

Rockwell Land Corporation, Century Properties Group Inc., Filinvest Land Inc. and SM Land did not submit offers.

In a disclosure to the stock exchange on Tuesday morning, Filinvest Land said it did not participate in the FTI property bidding, since the property did not fit with its land banking strategy.
"The due diligence on the property, the existing leases, the possible development timeframe, as well as the minimum bid price and the payment schedule, FLI felt that acquiring the FTI property under the current terms does not conform to its land banking business model and its return criteria," Filinvest said.
The government has been trying to sell the property for years, but there have been delays and failed biddings.
http://www.abs-cbnnews.com/business/...rty-p2433b-bid

[Ry_Tower]

Wow, ang layo.

Looks like Ayala land won't make it the next divisoria.

[jdee12]

Kung idedevelop nila yang FTI, sana i secure nila yung dun sa side na pag-labas sa Muslim area. Madaming loko dun sa part na yun.

[CVT]

Oh wow,- Ayala >>> hope they develop something really great with FTI...

Sana, walang masyadong gulo....

16.6K:sunny::sampay:

[chrismarte]

^^antay ka lang paps....pinaplano na yan ng mga leftist.

Sana dito na lang nilagay talaga yung mga terminal ng bus papuntang south tapos tayuan nila nang tren going to Makati and Pasay area.

[CVT]

^^^ Siyempre bro.,- masarap mapunta sa headlines araw-araw....

16.6K:sunny::sampay:

[shadow]

BGC 2.0? pero can they really afford both FTI and Ortigas deal? I think eventually they will let go of one and I think it will be the Ortigas deal and sa SM pa rin mapupunta yan...

[jdee12]

Alam niyo bro, ilan taon din ako tumira malapit diyan. Madalas mang-gulo ang ilang mga Muslim malapit diyan. Sana i secure dun sa side ng Maharlika village na yun. Baka gawin takbuhan kasi diyan. Lalo na maluwag ang roads.
Sana pag nabili din eh, ayusin ang kalsadan, daming lubak na rin diyan.

[timrev]

Ayala to turn FTI property into new business district
Ayala to turn FTI property into new business district | ABS-CBN News

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.

[CVT]

Bili na tayo ng mga pre-selling na condo units...

Maharlika ba kamo bro.jdee12...

16.6K:sunny::sampay:

[Jiggs]

^^antay ka lang paps....pinaplano na yan ng mga leftist.

Sana dito na lang nilagay talaga yung mga terminal ng bus papuntang south tapos tayuan nila nang tren going to Makati and Pasay area.

I've read in some papers that it's one part of the DOTC & DPWH grand plans hindi naman lahat nakuha ng Ayala 73 hectares lang.....to use it as some sort of a 5 hectares Bus Grand Terminal, then all passengers will be connected to Manila by trains. I think a nice plan to decongest Manila's traffic.

[timrev]

kaya din siguro hindi nakapag submit ng bidd ang SM dahil siguro sa ortigas deal...

ok pag bili ng ayala jan sa FTI maayos din sa wakas...

[vinj]

^^antay ka lang paps....pinaplano na yan ng mga leftist.

Dapat daw sa mga mahihirap ibigay ang lupa. :D

So i guess we'll be seeing another round of offerings from the Ayala group in the fund raising department.