P1.7B high-rise building at PAC to start this year

THE P1.7 billion high-rise building by Dynamic Builders Inc. (DBI) will be realized this year at the Provincial Administration Center (PAC) as no other investor challenged the company's unsolicited proposal, a Capitol official said.

Acting Provincial Administrator Lucille Gelvolea confirmed that the period to challenge has already been closed Tuesday, August 14, and that nobody challenged DBI.

"We will now issue the notice to the governor and the Provincial Council, reporting about the status of the unsolicited proposal of DBI. And after we have notified them, we will draft the memorandum of agreement (MOA) based on the term of reference (TOR) then we will present it to the original proponent and submit it again to the council for their review, comments and approval. The council will then give the authority to the governor to sign the MOA," Gelvolea explained.

She also said the Provincial Government will issue the notice of award which will be based on the agreed TOR and within five months, DBI can start the project.

"The sooner we can vacate the PAC, the sooner they can start. We have already identified some of the venues where to transfer temporarily until the new PAC will be constructed," Gelvolea further said.

Second District Board Member Salvador Escalante Jr., chair of Provincial Council committee on appropriation, budget, finance, ways, and means, said that Dynamic Builders will construct a mixed-use nine-storey building on the 6,480 square meter-Capitol property. The first two floors will be for commercial, third floor for call center while the fourth to the ninth floor will be a hotel.

The company's unsolicited proposal for a 50-year rental at P85 per square or P550,000 a month and a total of P6 million per year.

The rental will escalate at five percent every five years.

They also offer advance down payment for two years and another two-year deposit. The proceeds of the agreement will go to the General Fund and will be part of the 2019 Appropriations Act of 2019, Escalante earlier said.