PSALM seeking bids for real-estate assets

By Lenie Lectura – November 4, 2020
from Business Mirror

The Power Sector Assets and Liabilities Management Corp. (PSALM) said Wednesday it would rebid three real-estate assets for a total of P26.34 million.

The state firm is selling its Loboc property in the Province of Bohol for at least P12.139 million.

It is composed of 4 lots with a total land area of 13,204 square meters. It is near the scenic Loboc River which is a bustling tourist site.

The 1,868-square meter asset in General Santos City, meanwhile, is near the shoreline of Calumpang. It is composed of four lots and in close proximity to an industrial zone. PSALM has set the minimum bid price (MBP) at P10,974,500.

The third asset is the Calamaniugan property in Cagayan. It has a land area of 2,148 square meter. The MBP is P3.222 million.

“The PSAM through its Privatization Bids and Awards Committee invites interested parties to participate in and bid for the sale, through public bidding on an “as-is, where-is” and in “cash” basis,” the state firm said. PSALM will hold a pre-bid conference on November 17, with bid submission deadline set on December 2.

Interested bidders must post a bid security of at least 10 percent of the bid price. They will also be asked to pay a participation fee of P12,500 for the Loboc property, P11,000 for the General Santos property and P4,000 for the Camalaniugan property.

“In the event public bidding is declared a failure due to the participation of only one bidder, the lone bidder’s bid shall be considered an offer to buy the property through negotiated sale,” it said.

The first round of biding was declared a failure because the prospective bidder for the Loboc property did not pursue its bid while there were no interested bidders for the two other assets.