Bidders question arena requirement for two SRP lots

DEVELOPERS interested in bidding for the two lots for sale in the South Road Properties (SRP) in Cebu City were confused over the retention of a requirement for winning bidders to build an arena.

Lawyer Jose Daluz III, who heads the special Technical Working Group (TWG) of Cebu City Hall’s Committee on Awards earlier announced that they plan on removing the requirement for the winning bidder.

SM already earlier announced that they would put up their own arena in the SRP as part of their 30-hectare SM Seaside City Complex. The plan was even supported by Mayor Michael Rama.

But in the final Terms of Reference and the guidelines for the bidding, the requirement was retained.

“Why is it included now if SM already pronounced before (that they’ll build an arena). It will be unfair for us to carry the cost of the arena as new bidders. It’s undue penalty for new bidders to shoulder the arena?,” said Cebu Holdings Inc. (CHI) President Aniceto Bisnar Jr. during yesterday afternoon’s pre-bid conference for the SRP lots.

Requirement

Daluz said while they wanted the requirement removed, the Committee on Awards and the executive department has no authority to do so.

He said they would need council approval to remove the requirement.

“We have already informed the council. The committee on awards and the mayor agreed on removing the arena requirement. We will be pushing for it, but we can’t give any assurance,” Daluz told the bidders.

Bisnar said the requirement will discourage interested bidders.

He said if the arena requirement is removed, then they can increase their bid for the lot which is being sold by City Hall at a P20,000 per square meter floor price.

Filinvest Land Inc. (FLI) said they are willing to continue submitting their bid with the assumption that there will still be an arena requirement.

A representative from SM yesterday said they have also started a conceptual design for an arena which they plan to submit during the submission, receipt and opening of bids on June 30.

Cebu City Hall is selling not just the Calungsod lot but also a P19.2 hectare lot between the current SM Seaside City site and that of Filinvest.

During yesterday’s pre-bid conference, five interested developers were present.

Aside from SM, Filinvest and CHI which Ayala Land is a part of, representatives from Aboitiz Land and Robinsons Land Corp. were also present.

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