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MARCOS PROPERTY IN BAGUIO SOLD
By Florante S. Solmerin (Manila Standard Today) April 26, 2012
The COMNET Management Corp. has won the bidding of Hanz Menzi compound for P93,017,755.56, Presidential Commission on Good Government Chairman Andres Bautista said Wednesday.
The sequestered property of the late President Ferdinand Marcos is located along Outlook Drive North in Baguio City.
“The Privatization Committee of the commission declared the bid submitted by COMNET Management Corp. as the highest bid besting six other bidders that submitted lower bids during a public bidding held at its head office in Mandaluyong City [on Tuesday],” Bautista said.
The bidding was held by Commissioner for Asset Management Richard Roger Amurao, chairman of the PCGG Privatization Committee.
The bid submitted was higher by P55,771,705.57 than the minimum bid price of P37,245,850.