Only two out of 10 prospective bidders, Waterfront Philippines and a Korean consortium led by Hanwool I&D Corporation, submitted their bids to lease, operate and manage the property last week at the Clark Freeport Zone.

CDC said Waterfront Philippines has submitted a compliant bid and is now being subjected to bid evaluation and post qualification.

The Hanwool I & D Corporation led Korean consortium was technically disqualified during the bidding conducted last June 6. It asked the privatization committee to reconsider its decision four days later.

The award shall be made by the CDC board after the special privatization committee submits its recommendations on the results of the bid evaluation, post qualification, and the final resolution of the motion filed by the Korean consortium, Liberato P. Laus, CDC President said.

Bid proposals submitted by Waterfront Philippines β€œshall undergo detailed evaluation to determine and verify responsiveness as to authenticity, correctness and validity of the legal, technical and financial documents, as well as such other information as CDC deems necessary and appropriate relative to the Terms of Reference (TOR) of the Privatization of former Mimosa Leisure Estate,” Laus added. – GMANews.TV