04 Sep 2021
The Power Sector Assets and Liabilities Management Corporation (PSALM) is conducting the second round of public bidding for the sale of its 50,447-square-meter real estate property in Brgy. Lagundi, Mexico, Pampanga. The Minimum Bid Price for the property set by the PSALM Board is PHP741,327,000.00. The deadline for the submission of bids for the property is on 20 October 2021, 2:00 PM after which the opening of bids will immediately follow.
The bidding will be conducted at the PSALM’s office at the 24th Floor Vertis North Corporate Center 1, North Avenue, Quezon City, but the proceedings will also be shown by virtual means for those who cannot attend in person.
The property consists of one (1) lot identified as Lot No. 552 per the Cadastral Map of Mexico and is covered by a clean title. The property is the former the site of the transshipment warehouse facility of the National Power Corporation’s (NPC) North-Luzon generation and transmission projects at the time of its operations. By virtue of Republic Act 9136, also known as the Electric Power Industry Reform Act of 2001 (EPIRA), the property was formally transferred from NPC to PSALM.
The property is appropriate for commercial land development and is highly accessible via the North Luzon Expressway, Subic-Clark-Tarlac Expressway, MacArthur Highway, and Jose Abad Santos Avenue. It is in close proximity to community centers like schools, hospitals, and major shopping malls. The new owner may redevelop the area for wholesale and retail stores, shops, and supermarkets. The property can also benefit from the planned Manila-Clark Railway system which will be completed within the last quarter of 2021.
Interested bidders may participate and bid for the Mexico property inclusive of the warehouse structures and other land improvements. The public bidding for the property will be on an “as-is, where-is” basis and remittance of full payment is expected.
A pre-bid conference will be held at 2:00 PM on 15 September 2021 to provide an opportunity for prospective bidders to raise questions pertinent to the terms of the sale. An interested party is required to pay a non-refundable participation fee in the amount of PHP100,000.00 until two (2) business days before the bid submission deadline.
Interested parties may download the bidding package for the Mexico property through the PSALM website at https://www.psalm.gov.ph.
Corporate Communications Division