PSALM reschedules bidding for Jasaan, Misamis Oriental and Toledo City, Cebu real estate assets

01 Aug 2019

The Power Sector Assets and Liabilities Management Corporation (PSALM) has rescheduled the deadline for the bidding of its real estate assets (REA) located in Barangay Aplaya, Jasaan, Misamis Oriental and Toledo City, Cebu. The bidding that is now scheduled on 05 September 2019 at 12:00 PM allows interested bidders additional time to conduct their own due diligence activities.

The sale of the two land assets is on an “as is, where is” basis. These lands used to be the location of the dismantled Aplaya Diesel Power Plant and the Cebu Diesel Power Plant but are now either at ground zero or with minimal structures left.

Proceeds from the privatization of PSALM’s real estate assets will be utilized to augment funds to pay-off its assumed financial obligations.

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