SM still not joining Clark Green City rebidding

SM Prime Holdings and another big property firm are still not buying into the new round of bidding for the Clark Green City development, despite several changes made by the Bases Conversion and Development Authority (BCDA) to entice more players to join.

SM Prime of the Sy family, as well as another property giant which declined to be identified, said they are not going to join the second round of auction for the former US military base in Tarlac.

“No, we are not participating in the bid,” SM Prime executive vice president Jeffrey Lim told

The BCDA and the SM group have had legal battles in recent years after the state-run agency tried to block the Sy family’s SM Aura mall in Taguig.

Meanwhile, the other property firm cited leasing conditions of the development as reasons for not joining in the upcoming bidding.

BCDA president and chief executive officer Arnel Paciano Casanova said in an interview last week they have made alterations on the conditions for the development of an initial parcel of land in Clark Green City after failing to attract proposals from firms during last April’s auction.

Among the changes is the expansion of the first lot to be offered for bidding to 288 hectares from its earlier offering size of 254 hectares.

Casanova said BCDA is also lowering the minimum bidding price and is removing an earlier condition requiring the winning bidder to infuse the amount of P2.5 billion as initial paid-up capital.

The BCDA is set to publish its notice to bid for Clark Green City in newspapers today.

Casanova said the BCDA is confident that it would successfully bid out the property this time around.