The Power Sector Assets and Liabilities Management Corp. (PSALM) has issued the notice to proceed for the consultancy services of the third-party evaluators on a property owned by the National Power Corp. that is up for privatization.
Irene Joy Garcia, the state-run firm’s president and chief executive officer, said the output of Isla Lipana & Co. (PWC) is expected to be released by June.
The study aims to fully maximize the utilization of the Diliman, Quezon City property for its best use to ensure that the government can strategically take advantage of the property’s full potentials
Garcia said an outright sale of the land is much easier but will be 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.
PSALM has selected the architectural conceptual design submitted by WTA Design Studio as the winning conceptual design for the planned rehabilitation of its Diliman property to be the basis for the master planning and the privatization options for its 5.195-hectare asset on Quezon avenue corner BIR road, Quezon City.
The property will be developed into a commercial center with high-rise mixed-use development, offering both office spaces and retail spaces that will be accredited into an economic zone. The property will continue to host offices of PSALM, the National Power Corp., the National Transmission Corp. and other energy related agencies.
The design features an environment-friendly business center integrates energy-efficient systems and innovative and sustainable design ideas apart. It will have pedestrian-friendly spaces, interactive installations, bike trails, green promenades, al fresco spaces and play areas.
Net leasable space is about 400,000 square meters.
