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PAGCOR puts Solaire land plots up for bidding again

Philippine Amusement and Gaming Corporation (PAGCOR) has launched a second auction for two parcels of land occupied by Bloomberry’s Solaire Resort and Casino.

PAGCOR put the two plots of land, which covers some 160,359 sqm, on auction in late November. The minimum floor price for the land was priced at P37.2 billion (US$738 million).

These figures have remain unchanged in the latest announcement, as well as details relating to the land's use and emburances, which include a long term lease by Sureste Properties, a unit of Bloomberry, for up to July 11, 2033, that of which is extendible.

PAGCOR also did not offer an explanation as to the reasons for a second bidding process for the land.

However, it had advised that a pre-bid conference is set for January 15, 2018, while an inspection of the properties shall commence on January 4 to January 25, 2018.

PAGCOR also announced that the deadline for the submission of bids shall be on January 26. 2018 at 2pm.

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