With the window remaining open for bidders to challenge Cerberus’ unsolicited offer for the Subic Bay International Airport (SBIA), the Subic Bay Metropolitan Authority (SBMA) officially adjusted the bidding timeline, according to a news report by the Manila Standard. Previously, the SBMA announced a Swiss challenge for the airport development project.
To put things in perspective, posted below is an excerpt from the SBMA’s official announcement. Some parts in boldface…
The Subic Bay Metropolitan Authority (SBMA) is inviting rival bidders to challenge the unsolicited offer of Cerberus Asia Pacific Investments LLC for the P6.2-billion Subic Bay International Airport (SBIA) development project.
In a recent bid bulletin, the SBMA announced that the issuance and availability of tender documents has been rescheduled to June 17, 2026, moving back from its initial May 18, 2026 timeline.
“The extension ensures technical specifications, financial parameters, and contractual frameworks are comprehensive, accurate, and clear,” the SBMA said.
“This adjustment protects the integrity of the Comparative Challenge process and ensures an equal footing for all participants. No prejudice is caused to any party as documents have not yet been released,” it added.
The asset-management firm Cerberus originally submitted its unsolicited proposal on March 26, 2025, under an Operate-Rehabilitate-Add-Transfer scheme.
The project spans a 25-year concession period—with a possibility for extension—and involves upgrading, expanding, operating, and maintaining the SBIA before its eventual turnover to the SBMA.
The primary goal is to transform the airport into a modern, high-capacity cargo hub that meets international standards and streamlines logistics across the Luzon region.
The comparative challenge will operate under a “right-to-match” mechanism in accordance with the PPP Code Implementing Rules and Regulations (IRR).
The original proponent will be given 30 calendar days to match or top the most superior proposal submitted by a challenger. If no challengers emerge, or if the original proponent submits a superior counter-offer, the contract will be awarded to Cerberus.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think several corporate entities overseas will eventually challenge Cerberus’ bid for the Subic Bay International Airport?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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