STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has opened its second round of bids for qualified individuals, corporations and partnerships for the sale of the agency’s real estate properties across the country.

Interested parties may participate and bid for the sale of the 7 available lots through a public bidding on an “as-is, where-is” and “in Cash basis”, PSALM said in a press release on Wednesday.

Available properties include four lots and improvements in Loboc, Bohol, two lots in General Santos (GenSan) City and one lot in Camalaniugan, Cagayan.

The minimum bid prices for the PSALM’s Loboc, GenSan and Camalaniugan properties are P12.14 million, P10.97 million and P3.22 million respectively.

Bidders may participate in one or more projects, but they are required to submit one bid per project.

Interested parties who wish to further participate in the bidding must pay a non-refundable participation fee of P12,500 for the Loboc property; P11,000 for the GenSan City property, and P4,000 for the Camalaniugan property.

PSALM said bids must be in the form of cash or a manager’s check equivalent to at least 10% of the bid price. Within 10 business days, the buyer must pay a “one-time full payment of the purchase price according to instructions to be issued by the government entity.”

The second round of bidding is open to all individuals/sole proprietorships, corporations and partnerships that are registered and organized in the Philippines. They must be at least 60% Filipino-owned, and authorized by the law to acquire, own, hold, or develop real properties in the country.

Interested bidders can download the bidding package, which is available on PSALM’s website.

The pre-bid conference will be held at 2:00 p.m. on Nov. 17, and the bid submission deadline is at 2:00 p.m. on Dec. 2.

Under Republic Act No. 9136 or Electric Power Industry Reform Act (EPIRA), PSALM is mandated to manage the orderly sale, disposition and privatization of the National Power Corp.’s (Napocor) assets, including those of real estate.

By doing this, the wholly owned government entity aims to liquidate all of Napocor’s financial obligations and stranded contract costs in an optimal manner. — Angelica Y. Yang