Twelve real estate developers have expressed interest in the 34.5-hectare JUSMAG property in Fort Bonifacio, the state-owned Bases Conversion and Development Authority (BCDA) announced Wednesday.

BCDA vice president for business development Aileen R. Zosa said the twelve real estate developers who expressed interest and purchased the Terms of Reference (TOR) for Volume 1 “Eligibility Documents”for the Selection of BCDA’s Joint Venture Partner for the development and privatization of the JUSMAG property were: Filinvest Land Inc., Century City Development Corporation, Robinsons Land Corporation, Ayala Land Inc., Megaworld Corporation, Nuvoland, Rockwell Land Corporation, Jones Lang La Salle Leechiu, IPM Realty and Development Corporation, The Rufino Group, JTKC Land, Inc., and San Miguel Properties, Inc.

Zosa said the entire JUSMAG property is 35.5 hectares but the area subject of disposition under BCDA's Asset Disposition Program Phase 3 comprises 34.5 hectares with the remaining one-hectare area allocated for civic or institutional use.

She said that, of the 34.5-hectare area for disposition, 20.76 hectares are buildable, 2.02 hectares are reserved for recreation and open spaces, 0.62 hectares is reserved for utilities, and 11.05 hectares are reserved access lots, including the 0.97-hectare area reserved for the widening of Lawton Avenue .

Zosa noted that the maximum allowable Gross Floor Area (GFA) for the said property is 1.383 million square meters.

The 34.5-hectare JUSMAG property subject of disposition is along Lawton Avenue in Fort Bonifacio , Taguig City at the back of posh Forbes Park. The minimum price for the property is P19,000 per square meter.

The BCDA is expected to generate at least P6.55 billion for the said property. Deadline for submission of eligibility requirements is January 14, 2010. Proponents declared eligible by BCDA are expected to submit their final technical and financial proposals not later than March 3, 2010.