24 Sep 2020
The Power Sector Assets and Liabilities Management Corporation (PSALM) held a pre-bid conference on 24 September 2020 as part of the process for the sale of its 50,447 sq. meter Mexico Property, located in Barangay Lagundi, Mexico, Pampanga. The bid submission deadline for this asset is scheduled on 20 October 2020 at 2:00 PM.
This pre-bid conference gave prospective bidders the opportunity to clarify issues and concerns they may have on the terms of the sale. Three (3) interested parties, namely, United Ascent Holdings, Inc., Panasia Energy Inc. and Pan Pacific Renewable Power Philippines Corporation, participated in the pre-bid conference.
The minimum bid price for the Mexico Property is set at PHP803,151,000.00. It is located within Barangay Lagundi, Mexico, Pampanga along Jose Abad Santos Avenue and 2.5 kilometers from the North Luzon Expressway. The Mexico Property is suitable for residential and commercial land development.
PSALM president and CEO Irene Besido Garcia explained to the prospective bidders that "This is a prime real property of PSALM, in a good location with a clean title. It can be utilized for various commercial purposes. PSALM is selling this property on an as-is-where-is basis."
The bidding package can be downloaded from the PSALM website at www.psalm.gov.ph. Only parties who paid the participation fee and submitted duly executed Form of Acceptance of the Bidding Procedures will be allowed to participate in the sale of the aforementioned real estate asset. Proceeds of the sale will be used to augment collections needed to settle PSALM's financial obligations.
Corporate Communications Division