Ayala no longer interested on Capitol project-A A +A
Monday, October 8, 2012
DESPITE the recent approval of the Commission on Audit (COA) of its contract to purchase the prime properties of the Provincial Government, Ayala Land maintains its disengagement on the project.
In its statement dated October 5, Ayala welcomes the approval of the Deed of Conditional Sale and Contract of Lease between the Negros Provincial Government and Ayala Land Inc. (ALI) in relation to the Capitol Property.
“We note, however, a pending case at the Regional Trial Court Branch 50 against the award of the property which could be elevated to higher courts. In any event, after more than 14 months of waiting, we maintain our intention to discuss a mutual disengagement with the Negros Provincial Government,” the statement said.
It added that Ayala is now focused and accelerating the development of our 200 hectare North Point project.
Ayala Land is supposed to invest P6.6 billion on the capitol properties surrounding the old Provincial Capitol Building.
Still pending before the Regional Trial Court (RTC) here is the civil case filed by Shoe Mart Prime Holdings, Inc. (SMPHI) against the Provincial officials on its assertion that the company won in the bidding for the said property in July 7, 2011, where SMPHI presented a higher bid price compared to that of Ayala Land. The provincial Bids and Disposal of government properties declared that bidding a failure.
Frank Carbon, president of the Metro Bacolod Chamber of Commerce and Industry (MBCCI), said they are still hoping that Ayala Land will reconsider its decision.
Meanwhile, Board Member Patrick Lacson said the decision of Ayala should be respected.
“We lost a golden opportunity but it should teach us a lesson of what we could have done,” Lacson said.
Published in the Sun.Star Bacolod newspaper on October 08, 2012.