By
Lenie Lectura - December 24, 2019
State-run Power Sector
Assets and Liabilities Management Corp. (PSALM) issued on Monday a notice to
award multinational service firm PricewaterhouseCoopers the consultancy work on
the redevelopment of the National Power Corp. (NPC) complex.
“The Notice of Award
was issued because we had to complete first the post-qualification
process,” said PSALM President Irene Joy Garcia in a text message.
PSALM earlier said its
5.195-hectare property in Diliman, Quezon City, will be converted into a
commercial center with high-rise mixed-use development, offering both office
spaces and retail spaces.
“We were able to do the
first step which is the design contest,” Garcia said, referring to
the architectural conceptual design submitted by WTA Design Studio.
“The next step is for
PWC to secure the performance bond, and upon submission to us, PSALM will then
issue the Notice to Process and sign the contract,” added Garcia.
She said the
performance bond may cost about P300,000, representing 5 percent of the
contract price, if payment will be via check or bank guarantee. If via surety
bond, Garcia said PWC must secure an amount of P1,799,403.78, or 30 percent of
the contract.
The PSALM
official earlier said that PWC has 180 days “to complete everything” including
the conduct of a feasibility study, reportedly costing P5.98 million.
“After we do the
feasibility study, then we can already come up with the privatization action
plan for the NPC complex,” she added.
WTA Design Studio’s
conceptual design, entitled “The East Grid,” was selected for its
multidimensional, people-oriented concept of developing a new
environment-friendly business center that integrates energy-efficient systems,
and innovative and sustainable design ideas.
This design entry
assimilates pedestrian-friendly spaces, interactive installations, bike trails,
green promenades, alfresco spaces and play areas into a development that will
ensure a net leasable space of about 400,000 square meters.
Garcia said this
architectural conceptual design competition is a critical component of the
company’s privatization program.
An outright sale of the
land is much easier but less advantageous for the government than purposefully
developing it in accordance with its best use, and eventually ensuring a
substantial income stream and steady cash flow that the government can enjoy,
the official explained.
“The objective is to
fully maximize the utilization of the Quezon City property, study carefully the
possible highest and best use for it and ensure that the government can
strategically take advantage of the property’s full potentials,” Garcia said.
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