Six property companies led by Ayala Land Inc., Filinvest Land Inc. and Robinsons Land Corp., plans to challenge the unsolicited proposal of SM Land Inc. to develop the 33.1-hectare Bonifacio South lot, the state-owned Bases Conversion and Development Authority said in a statement Monday.

BCDA executive vice president and spokesman Aileen Zosa said the three other companies are Megaworld Corp., Rockwell Land Corp. and property and financial consultancy company Jones Lang LaSalle-Leechiu.

Zosa said the six purchased the terms for the “Swiss Challenge” that will determine BCDA’s joint venture partner in the development of the Bonifacio South property.

“These developments are strong indications of the confidence of private business in the Philippine real estate market and in the Aquino government, as a whole,” she said. Read more...

By Julito G. Rada (www.manilastandardtoday.com)