NegOCC gov’t may rebid Bacolod property contested by Ayala, SM

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.

But the property deal between the two parties was questioned in court by tycoon Henry Sy-led SM Prime Holdings for it claimed that it submitted a much superior bid. (PNA)


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s