ILOILO CITY -- The site of the old Iloilo airport is up for sale to investors, the Department of Finance announced on Monday.

DOF Undersecretary John Phillip Sevilla, chair of the bids and awards committee of the old Iloilo airport, said they are now accepting bids for the 54-hectare property in the Mandurriao District here.

The deadline for the submission of documents by prospective buyers is on March 27 while the bidding will be held on April 24. The property is estimated to cost from P500 million to P2.5 billion, according to the DOF. The proceeds of the sale will go to the national government.

Sevilla said they have already received several verbal notices from investors who are interested in buying the property but he refused to identify them saying they will wait until the bids are formally submitted.

The bid price can be payable in a year with an interest of 12 percent per annum. The buyer will pay 25 percent as down payment and another payment of 25 percent after six months. The remaining amount will be payable within the next six months.

Sevilla said that, aside from the required documents, they will also look into the financial capacity of the prospective buyers.

No restrictions will be applied to buyers of the property which is strategically located around 10 minutes from the city proper.

Iloilo City Mayor Jerry Treñas had earlier said that they would encourage investors to put up an Information and Communications Technology park, convention center and a hospital in the site.

The oil airport will be expected to be vacated by next month when the Iloilo international airport situated in a 188-hectare area in Cabatuan and Sta. Barbara towns will start operations.

The P8.759 billion new airport will be turned over by the Taisei-Shimizu Joint Venture to Department of Transportation and Communication on March 19, Allan Java, Air Transportation Office manager in Western Visayas, said. He also said the first flight to the airport is set on April 12.

The new airport can accommodate six aircrafts simultaneously and has a three-story terminal with an area reaching around 12,000 sq m in floor area. It is equipped with advanced facilities including a modern terminal, control tower buildings, and landing and navigation systems.

Java said they will maintain the daily traffic of 26 incoming and outgoing flights this year. But additional flights including from international destinations will be expected soon.*NPB

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