State-run Power Sector Assets and Liabilities Management Corp. tapped PwC Philippines to conduct the feasibility study on the development of the 5.195-hectare Diliman property in Quezon City.
“The notice of award was issued today because we had to complete first the post-qualification process. The next step is for PwC to secure the performance bond, and upon submission to us, PSALM will then issue the notice to proceed and sign the contract,” PSALM president Irene Garcia said.
PwC is a global network of firms delivering world-class assurance, tax and consulting services for businesses. PwC is the brand under which member firms of PricewaterhouseCoopers International Limited operate and provide services.
Garcia said the feasibility study would determine the property’s marketability, validate the cost of investment and identify appropriate privatization schemes for the Diliman property to attract prospective developers.
PSALM said the winning architectural conceptual design for the development of the Diliman property would be subjected to the said feasibility study.
PSALM previously selected the architectural conceptual design submitted by WTA Design Studio as the winning design for the Diliman property after a three-day rigorous selection process in July.
The winning entry of WTA Design Studio titled, “The East Grid” aims to develop PSALM’s 5.195-hectare Diliman property into a mixed-use office development integrated with wellness and commercial elements and combined with energy-efficient systems and innovative, sustainable design ideas.
PSALM manages the assets and liabilities of National Power Corp. as mandated under the Electric Power Industry Reform Act of 2001. The Diliman property currently hosts the office of Napocor and National Transmission Corp.
“The conceptual design will serve as the basis for the master planning and privatization of the Diliman property. The privatization of the property aims to generate additional income for the payment of PSALM’s assumed liabilities,” the agency said.
WTA Design Studio received a cash prize of P4 million, which is conservative enough to cover all components of its entry design such as the architectural conceptualization and intellectual property, the submitted scale model, the CAD video walk-through, the study on the developmental and financial costing and other considerations to meet PSALM’s objective for the highest and best use for an environment-friendly and energy-efficient property.
“It will be an accredited economic zone that will also provide offices for PSALM, Napocor TransCo and other members of the Energy family that would like to move to the said location,” PSALM said.
PSALM said WTA Design Studio’s conceptual “design assimilates pedestrian-friendly spaces, interactive installations, bike trails, green promenades, alfresco spaces, and play areas into a development that will ensure a net leasable space of about 400,000 square meters.”