Legal Issues vs. South Road Properties fail to Stop Investors

Sun.Star
Wednesday, May 09, 2007


THE Cebu City Government expects a tremendous impact of Bigfoot Entertainment in terms of livelihood, as the company broke ground at the South Road Properties (SRP) for its “state-of-the-art filmmaking facilities.”

Matt Lubetich, Bigfoot chief operations officer, said the company does not mind the legal issues hounding the SRP, adding that they knew the risks.



“Our chairman’s outlook in life is that opportunity comes so fast. This is a great opportunity and we will take that opportunity no matter what happens. If we will wait (for the issues to be settled), it might take years,” he said.

In a speech, he said they see the potential of Cebu City and the changing landscape of the SRP.

In an interview, he said they will be investing in local talents. The company has even brought in foreign trainers to teach here.

Supportive

“We want to show that we are supportive of Cebu and will put our money down. We’ve been doing that for years. We train you and you work for us,” he said.

Lubetich said that even neighboring Talisay City, whose claim over portions of the SRP delayed its titling for several years, will benefit from their investment at the property.

Impact

Mayor Tomas Osmeña said he knew how a movie industry impacts on the lives of the people and economy where it is based, having lived in the US for 15 years and saw for himself what Hollywood did to the US.

“Beverly Hills would not be there if not for the movie industry. Restaurants, beauty parlors would shut down without the movie industry,” he said.

Yesterday’s ground-breaking was for phase one of Bigfoot’s project in the city.

While it is just renting two hectares of the SRP, it plans to buy 16 hectares more.

Last February, Bigfoot and the City Government signed a memorandum of agreement for the lease of a two-hectare property at the SRP where four studios and a helipad will be built, among others.

Cebu Investments Promotions Center executive director Joel Mari Yu said Bigfoot is preparing for the expansion of its International Academy of Film and Television at the 300-hectare SRP. (RHM