ANY challenger on the proposed P4 (public-private partnership in the province) project would be beneficial to the province as it might have better offers, a Capitol official said.
Acting Vice Governor Salvador Escalante Jr. Wednesday, July 25, said the proposal of the original proponent Dynamic Builders and Construction Company for the development of Capitol Commercial Center has yet to be published within the week.
Escalante said that, for now, they have not yet received even "informal manifestation" from any would-be challenger.
Also, he has not personally heard any “rumors” about whether there is another interested company.
“I hope there would be challengers. We urged potential challengers to consider the project,” he said, adding that "challengers are expected to have better offers thus, it would benefit the province."
During the public consultation last week, there was no opposition raised on the proposed development.
In its unsolicited proposal, Dynamic Builders and Construction Company intended to lease 6,485-square meter portion of the province’s property on Gatuslao Street in Bacolod City where the PAC is located.
Initially, the Bacolod-based construction firm has offered 50 years of lease period at a rate of P78 per square meter per month, which will escalate by 10 percent every five years.
The development worth P1.4 billion is a nine-storey building that will mainly host hotel, mall, and business process outsourcing spaces.
Earlier this month, the Provincial Board has approved the endorsement of Governor Alfredo Marañon Jr. requesting for approval of the Joint Certificate of Successful Negotiations and Terms of Reference based on terms and conditions agreed in the negotiations between the P4 Selection Committee and the original proponent.
Escalante said interested companies are actually given two weeks to challenge the original proponent, but they can request for an extension to study the initial offer.