Monday, April 23, 2018
  • share this

COA recommends sale of Bacolod lot to Ayala

/ 03:53 PM September 27, 2011

Bacolod City — The provincial auditor of the Commission on Audit has recommended the approval of the contract for the sale and lease of the 7.7-hectare property in Bacolod City owned by the Negros Occidental provincial government to Ayala Land Inc.

Provincial COA auditor Ernie Villa said the negotiated price offered by Ayala was higher compared with the offer of the SM Prime Holdings Inc. (SMPHI), which was also interested in the property.

“The negotiated price offered by Ayala was high. It was above the minimum valuation set for the price of the property even after the deduction of the P25 million allotted for the development of the Capitol Lagoon Park in Bacolod City,” Villa said.


The report was submitted on Wednesday to the COA Western Visayas office in compliance with the policy that every contract entered into by government should be reviewed and approved by state auditors.

Negros Occidental Gov. Alfredo Marañon Jr. earlier said the province would stand to receive P3,575,846,909.25 with Ayala’s proposal, or more than P390 million more than the P3,112,464,973 offered by SMPHI.

Marañon added the proposed development cost of Ayala would be around P6 billion, P2.5 billion more than SMPHI’s investment in the area.

According to Villa, the provincial government had followed the pertinent rules and regulations in the bidding and the disposal of the property.

“With that, we have to recommend approval,” he said.

Villa said he also took note of the Court of Appeals ruling on the lifting of a temporary restraining order against the sale and lease of the property to Ayala.

The SMPHI has filed a petition for certiorari to stop the province from proceeding with the sale and lease of its prime property in Bacolod to Ayala.

The SMPHI claimed that it won the July 7 bidding for the property yet the province awarded the contract to Ayala in a negotiated bidding. /INQUIRER


Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Ayala Land Inc., Bacolod City, Commission On Audit, Local Governments, Property
For feedback, complaints, or inquiries, contact us.

216 abused Filipino workers back from Kuwait

April 24, 2018 12:48 AM


Carlo Aquino’s advice to his younger self

April 24, 2018 12:47 AM


What Ruru has learned from breakups

April 24, 2018 12:43 AM


No more mimicking of other singers for Sarah G

April 24, 2018 12:36 AM


Arci Muñoz willing to propose to bf

April 24, 2018 12:15 AM

© Copyright 1997-2018 | All Rights Reserved