Firm Pans to Build Restaurants at SRP Seawall (Nov 2006)
By Doris C. Bongcac
Cebu Daily News
Last updated 01:56pm (Mla time) 11/16/2006
RESTAURANTS and entertainment joints will soon be a fixture at the Cebu City's South Road Properties if an investment company will push through with its planned P200-million infrastructure project.
Cebu City Mayor Tomas Osmeña yesterday said he met with representatives of Filinvest Land Inc. in Manila to finalize the layout of the company's planned construction of 18 food and liquor stalls in a portion of the seawall of the SRP.
“Filinvest is planning to construct three structures. That will be considered a fun thing, something that will show that the SRP is a highly desirable area. The in place in Cebu,” he said.
The mayor has long envisioned the operation of restaurants and entertainment joints at the SRP.
He said in an earlier interview that Cebu's lack of an entertainment strip is one of the downside in its marketing campaign to attract tourists.
Osmeña said entertainment joints located away from each other is not very attractive to partygoers.
Filinvest is designing seaside stalls that will be leased to restaurant and restobar operators who wanted to open businesses at the SRP, Osmeña yesterday told Cebu Daily News.
Various entrepreneurs, Osmeña said, have already inquired of stall rentals.
Osmeña, however, said that before construction will begin, he wanted to clarify with Filinvest how the city government will be compensated from their construction project.
“There are some legal questions that we have to consider,” he said.
The city government, he said, may lease to Filinvest the portion of the SRP that they need for the construction project. An option is for the investment company and the city government to agree on a sharing scheme.
Under the sharing scheme, a certain percentage of the stall rentals that Filinvest will collect will go to the city's coffers, Osmeña said.
“If the operation of the stalls will be successful, this will be a source of income for the city government. I'm willing to put the city to risk in doing business (with Filinvest),” the mayor said.
Cebu Daily News
Last updated 01:56pm (Mla time) 11/16/2006
RESTAURANTS and entertainment joints will soon be a fixture at the Cebu City's South Road Properties if an investment company will push through with its planned P200-million infrastructure project.
Cebu City Mayor Tomas Osmeña yesterday said he met with representatives of Filinvest Land Inc. in Manila to finalize the layout of the company's planned construction of 18 food and liquor stalls in a portion of the seawall of the SRP.
“Filinvest is planning to construct three structures. That will be considered a fun thing, something that will show that the SRP is a highly desirable area. The in place in Cebu,” he said.
The mayor has long envisioned the operation of restaurants and entertainment joints at the SRP.
He said in an earlier interview that Cebu's lack of an entertainment strip is one of the downside in its marketing campaign to attract tourists.
Osmeña said entertainment joints located away from each other is not very attractive to partygoers.
Filinvest is designing seaside stalls that will be leased to restaurant and restobar operators who wanted to open businesses at the SRP, Osmeña yesterday told Cebu Daily News.
Various entrepreneurs, Osmeña said, have already inquired of stall rentals.
Osmeña, however, said that before construction will begin, he wanted to clarify with Filinvest how the city government will be compensated from their construction project.
“There are some legal questions that we have to consider,” he said.
The city government, he said, may lease to Filinvest the portion of the SRP that they need for the construction project. An option is for the investment company and the city government to agree on a sharing scheme.
Under the sharing scheme, a certain percentage of the stall rentals that Filinvest will collect will go to the city's coffers, Osmeña said.
“If the operation of the stalls will be successful, this will be a source of income for the city government. I'm willing to put the city to risk in doing business (with Filinvest),” the mayor said.