Published
March 16, 2019, 10:00 PM By
Myrna M. Velasco
State-run Power Sector
Assets and Liabilities Management Corporation (PSALM) has already set in motion
a contest among local and international architectural firms in concretizing a
blueprint for the planned re-development of the National Power Corporation
(Napocor) complex in Quezon City (QC).
The Napocor complex
which is also dubbed as “the Diliman property” has been placed under the
ownership of PSALM — being the power firm’s successor-company following the
privatization of its power assets.
Via its announcement on
the design contest, PSALM indicated that it is targeting “to come up with the
best and most energy-efficient conceptual designs that may be the basis of the
master planning and design development for its Diliman property.”
The proposed
development strategy will be similar to what was done by the Bases Conversion
and Development Authority (BCDA) for the Fort Bonifacio property – entailing
then that the government will be choosing a private sector developer to
transform the property into a “live-work archetype” of mixed-use development.
As envisaged, the
metamorphosis of the Napocor complex could be that of an “energy center” for
the office buildings and on coupling with commercial centers.
On the design
competition, PSALM has slated pre-contest conference on March 14 – that process
enabled prospective participants to ask questions and raise clarifications
relative to the mechanics of the competition.
The submission of
expressions of interest and first stage requirements will be on March 22 this
year, the office of PSALM President Irene Joy Garcia has announced.
The 5.1-hectare
sprawling Diliman property is currently sandwiched in the middle of various
commercial developments at its neighborhood – from its adjacent Centris Walk
and stretching all the way to the malls and commercial centers along the span
of northbound Edsa.
“Due to its strategic
location and ongoing high-rise development in adjacent properties, it is
considered a prime property with high potential for residential, commercial and
mixed-use development,” PSALM said.
The state-run company
is not just aligning the Diliman complex as a prime property development, it
will also be future home to offices of key energy agencies – including that of
PSALM; then that of National Power Corporation, Energy Regulatory Commission
and other prospective locators.
On anticipated revenues
fetched from the lease of offices and commercial spaces, PSALM has been
counting on these as additional sources of income to underpin its target to
fully wipe out power sector debts on or before the end of its corporate life
cycle in 2026.
And if additional
revenues will still be flowing beyond that timeframe, PSALM will make
arrangement that such shall be funneled directly into the national coffers.
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