Design contest for Napocor property in QC launched
By Myrna M. Velasco – March 16, 2019, 10:00 PM
from Manila Bulletin
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has already set in motion a contest among local and international architectural firms in concretizing a blueprint for the planned re-development of the National Power Corporation (Napocor) complex in Quezon City (QC).
The Napocor complex which is also dubbed as “the Diliman property” has been placed under the ownership of PSALM — being the power firm’s successor-company following the privatization of its power assets.
Via its announcement on the design contest, PSALM indicated that it is targeting “to come up with the best and most energy-efficient conceptual designs that may be the basis of the master planning and design development for its Diliman property.”
The proposed development strategy will be similar to what was done by the Bases Conversion and Development Authority (BCDA) for the Fort Bonifacio property – entailing then that the government will be choosing a private sector developer to transform the property into a “live-work archetype” of mixed-use development.
As envisaged, the metamorphosis of the Napocor complex could be that of an “energy center” for the office buildings and on coupling with commercial centers.
On the design competition, PSALM has slated pre-contest conference on March 14 – that process enabled prospective participants to ask questions and raise clarifications relative to the mechanics of the competition.
The submission of expressions of interest and first stage requirements will be on March 22 this year, the office of PSALM President Irene Joy Garcia has announced.
The 5.1-hectare sprawling Diliman property is currently sandwiched in the middle of various commercial developments at its neighborhood – from its adjacent Centris Walk and stretching all the way to the malls and commercial centers along the span of northbound Edsa.
“Due to its strategic location and ongoing high-rise development in adjacent properties, it is considered a prime property with high potential for residential, commercial and mixed-use development,” PSALM said.
The state-run company is not just aligning the Diliman complex as a prime property development, it will also be future home to offices of key energy agencies – including that of PSALM; then that of National Power Corporation, Energy Regulatory Commission and other prospective locators.
On anticipated revenues fetched from the lease of offices and commercial spaces, PSALM has been counting on these as additional sources of income to underpin its target to fully wipe out power sector debts on or before the end of its corporate life cycle in 2026.
And if additional revenues will still be flowing beyond that time frame, PSALM will make arrangement that such shall be funneled directly into the national coffers.
