BACOLOD CITY, June 4 (PNA) — The approximately 7.7-hectare prime property owned by the provincial government in the metro is eyed for rebidding, according to Negros Occidental Governor Alfredo Marañon Jr.
Marañon said he will sell the contested property once the court issued its decision on the land dispute between Ayala Land Inc. and SM Prime Holdings by July.
Marañon disclosed that the Central Bank of the Philippines has signified its interest to buy at least half of the said property.
He also pointed out that selling it again will be ideal since the value of land located along Gatuslao Street here rose substantially.
He also considered as “blessing in disguise” the failed purchase and lease of the lot in 2011.
It can be recalled that the provincial government awarded the purchase of 3.66 hectares of property and lease of the remaining 4.04 hectares for a period of 50 years to Ayala Land Inc. two years ago though a negotiated bid.