PSALM shortlists 5 companies for NPC complex re-development in QC

Published May 17, 2019, 10:00 PM By Myrna M. Velasco

https://business.mb.com.ph/2019/05/17/psalm-shortlists-5-companies-for-npc-complex-re-development-in-qc/

State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has shortlisted at least five companies in the design contest for the redevelopment of the National Power Corporation (NPC) complex in Quezon City.

Those that made it to the roll of PSALM had been: Casa Arkitektura; Concep Inc.; GF and Partners Architects; Jonathan O. Gan & Associates; and the WTA Architecture and Design Studio.

The competition on the re-development plan is for the Diliman, Quezon City site where the NPC complex is situated – a government-owned property that is being envisioned by PSALM to be transformed akin to the development landscape of the Fort Bonifacio Global City in Taguig.

PSALM said it selected the five design firms “after a rigorous selection process.” And following the shortlisting phase, the next stage will delve on coming up with “architectural conceptual design contest” for the master planning and redevelopment of the 5.1-hectare Diliman property.

The state-run company explained “these firms are expected to design a development concept based on the highest and best use of the property.”
As culled from the government’s target, it is lining up the property to metamorphose into a mixed-use of commercial spaces and office buildings – including the next home to state-run energy firms.

And with the lease of the spaces to private entities, PSALM is targeting to raise additional revenues that could then help wipe out the monstrous liabilities of the power sector that was placed under its charge following the privatization of the NPC assets. After the lapse of PSALM’s corporate life in 2026, any forward income from the redeveloped property will have to be transferred to the State coffers – with the requisite guidance and imprimatur of the Department of Finance.

On the design contest, PSALM emphasized that it had undertaken consultation meeting last week “to provide shortlisted firms an opportunity to clarify any concerns they may have on their deliverables.”

The company indicated that “aside from the consultation meeting, the shortlisted firms are also entitled to conduct their own due diligence activities and ocular inspection on an agreed date.”

The transformative phase for the Napocor complex is seen racing headway this year if a final blueprint and the terms of development would already be green-lighted by relevant government agencies.