Four Mega-Firms Plan to Buy SRP lots–Mayor (Jan 2007)
By Chris Ligan
Cebu Daily News
Last updated 12:57pm (Mla time) 01/18/2007
FOUR big companies are interested to buy at least 30-hectare-lots and put up their businesses in the South Road Properties (SRP) in Cebu City.
Mayor Tomas Osmeña said yesterday he has been negotiating with the owners of Big Foot Entertainment and was starting talks with owners of SM, Alta-Vista and Filinvest.
Big Foot has invested P9 million in Mactan where a movie studio and film school was built.
SM is owned by the Henry Sy, who is one of the richest Filipinos in 2006.
AltaVista and Filinvest are big real estate firms.
The mayor is aiming for a new upscale image for Cebu City.
Big Foot wants to buy a 60-hectare lot beside the sea near the Kawit Island.
The company plans to construct a mega-studio and a yacht club, which would cater to wealthy yacht owners from Hong Kong and Singapore.
Part of his plan, Osmeña said, is to put up a refueling station in between the Philippines and Singapore so that the rich families from Singapore and Hong Kong could refuel their yachts while on their halfway trip to Cebu.
“Daghan mga datu sa Singapore ug Hong Kong nga daghan kaayog mga yacht that cost 10 to 50 million dollars apan wala silay adtuon. So, we will organize trips to come and visit the Philippines and visit the Visayas,” Osmeña said.
The Sys, SM's owners, will be in Cebu this week to discuss the plan to invest in the SRP with city officials.
Osmeña said SM is planning to construct the Mall of Asia, (???) which would include an entertainment center, high rise buildings and a shopping mall.
Osmeña didn’t give details on the plans of other investors to buy lots in the SRP but he said that the lots would be bidded out.
But he said he had given priority to the investors who would not only buy lots in the SRP but also bring economic activity in the area.
“I think, the people are beginning to realize that the SRP is a good investment. Pero, di ta gusto nianang bisan kinsa lang mopalit unya junk yard lang (but I don't like the idea of letting anybody to buy lots in the SRP especially those who only plans make the lot a junk yard),” Osmeña said.
Mayor Osmeña's interest in constructing the Department of Tourism building in Kawit Island has waned with the strong interest that several investors has shown in the SRP.
He said constructing the DOT building would no longer be his priority since the government had not made the project a priority even if there was a financier, who was willing to fund the project.
“We just finish the development of SRP. When they (DOT) already want to put up their office sa dump site nalang,” Osmeña said.
Cebu Daily News
Last updated 12:57pm (Mla time) 01/18/2007
FOUR big companies are interested to buy at least 30-hectare-lots and put up their businesses in the South Road Properties (SRP) in Cebu City.
Mayor Tomas Osmeña said yesterday he has been negotiating with the owners of Big Foot Entertainment and was starting talks with owners of SM, Alta-Vista and Filinvest.
Big Foot has invested P9 million in Mactan where a movie studio and film school was built.
SM is owned by the Henry Sy, who is one of the richest Filipinos in 2006.
AltaVista and Filinvest are big real estate firms.
The mayor is aiming for a new upscale image for Cebu City.
Big Foot wants to buy a 60-hectare lot beside the sea near the Kawit Island.
The company plans to construct a mega-studio and a yacht club, which would cater to wealthy yacht owners from Hong Kong and Singapore.
Part of his plan, Osmeña said, is to put up a refueling station in between the Philippines and Singapore so that the rich families from Singapore and Hong Kong could refuel their yachts while on their halfway trip to Cebu.
“Daghan mga datu sa Singapore ug Hong Kong nga daghan kaayog mga yacht that cost 10 to 50 million dollars apan wala silay adtuon. So, we will organize trips to come and visit the Philippines and visit the Visayas,” Osmeña said.
The Sys, SM's owners, will be in Cebu this week to discuss the plan to invest in the SRP with city officials.
Osmeña said SM is planning to construct the Mall of Asia, (???) which would include an entertainment center, high rise buildings and a shopping mall.
Osmeña didn’t give details on the plans of other investors to buy lots in the SRP but he said that the lots would be bidded out.
But he said he had given priority to the investors who would not only buy lots in the SRP but also bring economic activity in the area.
“I think, the people are beginning to realize that the SRP is a good investment. Pero, di ta gusto nianang bisan kinsa lang mopalit unya junk yard lang (but I don't like the idea of letting anybody to buy lots in the SRP especially those who only plans make the lot a junk yard),” Osmeña said.
Mayor Osmeña's interest in constructing the Department of Tourism building in Kawit Island has waned with the strong interest that several investors has shown in the SRP.
He said constructing the DOT building would no longer be his priority since the government had not made the project a priority even if there was a financier, who was willing to fund the project.
“We just finish the development of SRP. When they (DOT) already want to put up their office sa dump site nalang,” Osmeña said.