PSALM seeks buyers for land assets

By Lenie Lectura – November 17, 2020
from Business World

The Power Sector Assets and Liabilities Management Corp. (PSALM) will hold a pre-bid conference on November 17 to showcase its small-value real estate assets located in Bohol, General Santos City and Camalaniugan, Cagayan.

“PSALM is calling on all interested bidders to attend the pre-bid conference scheduled on November 17, 2020. This conference aims to address inquiries from interested parties and clarify concerns on the sale provisions of said land assets,” the state firm said Monday.

One of the assets that will be bid out is the Loboc property in the Province of Bohol, consisting of 4 lots with a total land area of 13,204 square meters. The property is located near the scenic Loboc River which is a bustling tourist site in the province. The minimum bid price of for the Loboc property is P12,139,000.

Near the shoreline and in proximity to an industrial zone, the 1,868-square-meter Calumpang property in General Santos City is another asset that will be subject of the bidding. It is ideal for setting up small warehouses to cater to businesses in need of storage facilities for their goods. The minimum bid price for the Calumpang property is P10,974,500.

The lot in Camalaniugan in Cagayan province, measures 2,148 square meters. This property is currently a substation of a distribution utility and located in an area where land development is of mixed use for residential and agricultural purposes. The minimum bid price for the Camalaniugan property is P3,222,000.

The bid opening for these assets is set on December 2. The bidding for the said assets are separate and distinct from each other, but interested bidders may participate in one or more, or in all bidding projects. In case a bidder intends to participate in 2 or more bid projects, the bidder must submit a separate bid for each project. A winning bidder will be declared for each project.

Revenues from the successful sale of PSALM land properties will be used to augment funds for the settlement of its assumed financial obligations from the National Power Corp.