CEBU CITY, July 7 (PNA) — The Cebu City government’s committee on awards is targeting to award the sale of 45.2 hectares of lots at the South Road Properties (SRP) to its highest bidders before the end of the month, an official said.
Lawyer Jose Daluz III, head of the committee’s technical working group (TWG), said the notice of award (NTA) will be issued to the highest bidders on or before July 31.
Daluz said the NTA, as provided for under the Government Procurement Reform Act, should be issued within 30 days after the bidding.
The city bid out 45.2 hectares of the SRP on June 30, with a total offer of PHP16.76 billion.
Out of the property, the consortium of SM Prime Holdings Inc. and Ayala Land-Cebu Holdings Inc., placed the highest bid price for the 26-ha. lot, amounting to PHP10.009 billion.
Filinvest Land Inc., on the other hand, placed the highest bid price for the 19.2-ha. property at PHP6.758 billion.
Daluz said the TWG presented with the committee Tuesday its initial review of the bid documents submitted by the highest bidders.
He said the committe will check if everything is verified within the minimum compliance of the terms of reference.
Once an NTA will be issued, Daluz said they are planning to meet with the buyers to consult them on the draft contract to sell which will then be forwarded to the City Council for approval.
Daluz said they will refer the SRP sale to the Bureau of Internal Revenue to determine the tax for the properties and to the Commission on Audit for their approval. (PNA)