Tom's Authority to Sell SRP Lots, Enter Business Deals Proposed (Jan 2007)
The Freeman
A proposed resolution has been filed at the City Council authorizing Mayor Tomas Osmeña to sell some lots of the 295-hectare South Road Properties, and to enter into joint business ventures between the city and private entities.
Councilor Jose Daluz III, chairman of the council committee on real property, said the move would draw investors and property buyers to the SRP that would eventually turn it into a developed and productive zone, as its original purpose.
In his proposed resolution, Daluz identified some portions of the SRP that are up for disposal: Lot 1-B, under Title No. PT-13351, with a total area of 616,052 square meters; and Lot-F, under Title No. PT-13354, with an area of 157,135 square meters.
Osmeña earlier said that three big investors were interested to buy lots from the SRP for their businesses. These are Philinvest, SM Mall, and Bigfoot.
Bigfoot, a US-based information technology company with investments in communications, process outsourcing, and education and entertainment, had planned to buy 16 hectares from the CSRP. It had already submitted to the city its proposal for the matter.
SM Company had also considered buying about 30 to 50 hectares with willingness to pay these in cash as soon as the deal pushes through.
Philinvest, for its part, will buy 30 hectares and will open a restaurant in Kawit Island, as its way of bringing in economic activity to the area and subsequently entice more investors.
Presidential Proclamation No. 843 declared SRP as alienable and disposable property, and granted its ownership to the city government. SRP's Special Patent No. 3693 and Original Certificate of Title No. O-3581 were already issued to the city.
With these documents, Daluz said the SRP "are proprietary or patrimonial in character." He said that lands acquired by the city for patrimonial purpose could be sold to private parties, unlike those lands acquired for public purpose.
The SRP consists of "prime and strategic economic zones principally designed for commercial, industrial, entertainment and tourism oriented ventures," which underscored the purpose of its construction and development, said the Daluz proposal.
Daluz said the Local Government Code provides that LGUs shall have the power and authority to acquire, develop, lease, encumber, alienate or dispose of real properties held in their proprietary capacity and to apply their resources and assets for productive, development, or welfare purposes. - Garry B. Lao
A proposed resolution has been filed at the City Council authorizing Mayor Tomas Osmeña to sell some lots of the 295-hectare South Road Properties, and to enter into joint business ventures between the city and private entities.
Councilor Jose Daluz III, chairman of the council committee on real property, said the move would draw investors and property buyers to the SRP that would eventually turn it into a developed and productive zone, as its original purpose.
In his proposed resolution, Daluz identified some portions of the SRP that are up for disposal: Lot 1-B, under Title No. PT-13351, with a total area of 616,052 square meters; and Lot-F, under Title No. PT-13354, with an area of 157,135 square meters.
Osmeña earlier said that three big investors were interested to buy lots from the SRP for their businesses. These are Philinvest, SM Mall, and Bigfoot.
Bigfoot, a US-based information technology company with investments in communications, process outsourcing, and education and entertainment, had planned to buy 16 hectares from the CSRP. It had already submitted to the city its proposal for the matter.
SM Company had also considered buying about 30 to 50 hectares with willingness to pay these in cash as soon as the deal pushes through.
Philinvest, for its part, will buy 30 hectares and will open a restaurant in Kawit Island, as its way of bringing in economic activity to the area and subsequently entice more investors.
Presidential Proclamation No. 843 declared SRP as alienable and disposable property, and granted its ownership to the city government. SRP's Special Patent No. 3693 and Original Certificate of Title No. O-3581 were already issued to the city.
With these documents, Daluz said the SRP "are proprietary or patrimonial in character." He said that lands acquired by the city for patrimonial purpose could be sold to private parties, unlike those lands acquired for public purpose.
The SRP consists of "prime and strategic economic zones principally designed for commercial, industrial, entertainment and tourism oriented ventures," which underscored the purpose of its construction and development, said the Daluz proposal.
Daluz said the Local Government Code provides that LGUs shall have the power and authority to acquire, develop, lease, encumber, alienate or dispose of real properties held in their proprietary capacity and to apply their resources and assets for productive, development, or welfare purposes. - Garry B. Lao