Capitol clears way for ALI dev’t plan-A A +A
Wednesday, August 21, 2013
THE building occupied by Negros Occidental’s Provincial Environment Management Office (Pemo) is up for demolition to pave way for the development plan of Ayala Land, Inc. (ALI) for the Capitol properties.
Provincial administrator Enrique Pinongan said Gov. Alfredo Marañon, Jr. ordered for the clearing of the Capitol properties, which is one of the conditions set by the ALI, before it pays the Provincial Government for its properties for lease.
Pinongan said ALI may pay the province for the leased property before the end of the year.
ALI has won the contract for the sale and lease of the 7.7-hectare properties of the Capitol; however, the delayed approval of the Commission on Audit led to the decision of ALI to deprioritize the Capitol project.
Recently, Marañon confirmed that ALI executives met with him at his office and the company signified that it reconsiders its decision and signified its interest in pursuing the contract.
Capitol expects Ayala to pay for the lease of its 4.1-hectare property which the ALI may develop first.
The area covers the portion of the lot beside the PNB along Capitol Road up to the Pemo office and the areas surrounding the Provincial Capitol.
The Pemo, Pinongan said, is set to transfer to the building occupied by the Sweet City Captel, formerly Kadiwa Center.
In fact tables and some office files are now ready for the transfer.
Of the 7.7-hectare properties, Capitol is going to earn P35.4 million by which the annual rental is at P33 per square meter for the 4.1-hectare lot.
The remaining 3.6-hectare lot is covered by a Deed of Sale between ALI and Capitol.
Published in the Sun.Star Bacolod newspaper on August 21, 2013.