The state-owned Bases Conversion and Development Authority (BCDA)  has declared  three top real estate  developers eligible to  submit proposals for the competitive challenge for the privatization and development of the  North Bonifacio Lots in Bonifacio Global City.

The BCDA said the three companies eligible to submit proposals to challenge Megaworld’s unsolicited proposal for the joint venture deal for the 8.38 hectare North Bonifacio Lots are  Ayala Land Inc. (ALI),  Filinvest Land Inc. (FLI), and Robinsons Land Corporation (RLC).

BCDA Vice President for  Business Development  Aileen Zosa said the issuance of the tender documents or the Terms of Reference Vol.  2  will start today (June 11, 2009)  and  end on  June 26. She added that the Pre-Selection Conference will be held on June 29, 2009.

Deadline for the submission of Tender Documents which consist of the technical and financial proposals shall be on August 14, 2009.

The minimum price for the property is pegged at Php 33,283.88/sq.m. and the required minimum investment commitment is set at P15.6 billion.

The competitive challenge procedure will be conducted according to the NEDA Joint Venture Guidelines. The selection of BCDA’s joint venture partner shall be based solely on the price proposed for the property which is the present value of all cash inflows to BCDA.