Friday, October 24, 2008 Power company wants SRP lot
CEBU City Hall could earn up to P33 million from the South Road Properties (SRP) after the National Power Corp. (NPC) offered to buy a 3,000-square-meter lot for its regional headquarters.
City Administrator Francisco Fernandez said the transaction can be completed swiftly and there may be no bidding required, since the NPC is a government-owned and controlled corporation.
The sale could earn for the City P24 million if NPC opts to buy interior lots, or up to P33 million if they intend to buy lots along the South Coastal Road.
“We’re trying to see if we can sell without going through bidding since the buyer is also a government entity,” Fernandez said.
The City’s property disposal committee will tackle NPC’s offer in a meeting this Tuesday, including the processes that will have to be followed.
The committee will prepare a reply to NPC’s inquiry, informing them that the City is willing to sell subject to Acting Mayor Michael Rama’s approval.
Fernandez said that he has also asked the City Attorney’s Office if a bidding is necessary.
“The initial indication is we can sell without holding a bidding. When we buy a property from government, we don’t need a bidding so we asked our lawyers to check,” he said.
NPC is the fourth party to express interest to buy lots at the SRP.
The offer of Filinvest Land Inc. is being reviewed by the Joint Venture Selection Committee of City Hall, while the offers of Pueblo de Oro Development Corp. and SM Prime Holdings are being evaluated by the Cebu Investment and Promotion Center. (LCR)
