PSALM starts sale process for Napocor’s QC property

By Alena Mae S. Flores – March 08, 2019 at 08:45 pm

Power Sector Assets and Liabilities Management Corp. will solicit this year the best conceptual design and master plan for its 5.1-hectare Diliman property, also called the National Power Corp. complex, in preparation for its eventual privatization.

PSALM said the completion of the master plan for the Napocor complex, which houses the Napocor office, National Transmission Corp. and National Grid Corp. of the Philippines, would determine the privatization timeline.

The Diliman property is a 5.1-hectare property at the heart of Quezon City’s Central Business District.

PSALM said due to a strategic location and on-going high-rise development in adjacent properties, it is considered a prime property with high potential for residential, commercial and mixed-use development.

PSALM has launched a contest open to local and international architectural companies 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 the Diliman property.

A pre-contest conference that aims to discuss the property and explain the terms of reference of the contest will be held on March 14, 2:00 p.m. at PSALM’s Quezon City office.

PSALM will also entertain questions and clarifications that interested architectural firms may have on the contest mechanics. All interested architectural firms are encouraged to attend.

Deadline for submission of expressions of interest and first stage requirements is on March 22 at 4:00 p.m. They must be sent to the Office of the President and the chief executive of PSALM.

PSALM earlier announced plans to privatize the Napocor complex and its 44-hectare Bagac property in Bataan.

PSALM president Irene Joy Besido-Garcia earlier said the two properties were two big ticket real items that will first be privatized.

“Of course, we cannot privatize it instantly because there are offices within so we need to do a very careful master planning of the entire compound and the needs of the people using the current offices and then we have to decide on how to optimize the use of that land,” she said.

Garcia said PSALM would conduct a third party valuation of the properties and determine the best privatization option for each.