Cebu Sees More Earnings from Reclaimed Area (Dec 2006)

CEBU CITY--THE city government will start earning from the reclaimed South Road Properties (SRP) next year as some investors were expected to start constructing their facilities, Cebu Investment Promotion Center Joel Mari Yu said.

"I would like to believe that in the first half of next year we will see actual structures coming up," Yu said.
He said negotiations with some investors were in the final stages so the city government was expected generate revenues from the property.

University of Cebu president Augusto Go planned to build a high-end trade high school on a two-hectare lot across the school's campus, Yu said.

The Cebu City government and Go were negotiating for the lease of the area with an option to purchase, he added.

Another investor, Bigfoot wanted to start soon the construction of sound stages and a marina-commercial complex.

The company requires 15 hectares for the sound stage project and another two hectares for the marina-commercial complex.

Yu said Bigfoot planned to purchase outright the two hectares and lease, with an option to buy, the 15 hectares.

Bigfoot also planned to build a 15-story condominium also on the two-hectare area, he said.

"The sound stages project is also their (Bigfoot's) immediate priority. They want to build four sound stages as fast as possible," Yu added.

The Cebu City government also planned to go into joint venture projects with two major real estate developers.

The city was also finalizing an agreement with the Cardiovascular Hospitals of America, which planned to set up a medical facility at the SRP, he said.

There are also pending negotiations for 12 hectares with Taiwanese businessman Paul Yu, who was awaiting the completion of the access road, Yu said.

"Upon completion of the road, not only will Paul Yu come in but two or three other investors who want to come in and put up a standard factory building within that area," he pointed out.

Yu also explained that the bulk of the city's earnings generated from the SRP would come from its share of the utility sales, such as power and water.

"Land leases would only account for not more than 35 percent (of the SRP revenues). More than 50 percent of the revenue will come from our shares of power shares and the balance from our share of the water sales and other utility sales," Yu said.

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South Coastal Road Now Open to Private Vehicles 24 hours (Dec 2006)

The Freeman 12/10/2006

Good news to all motorists!

Mayor Tomas Osmeña yesterday ordered the opening of the South Coastal Road, which traverses the South Road Properties, on a 24-hour basis. This is seen to benefit not only Talisay City residents but those from the southern towns who can use it as a shortcut to Cebu City.

This includes the Mambaling access road, as the lights there are already operational.

"Starting today (yesterday), the SRP will be open 24-hours. We are opening it but not to the pedestrian traffic," Osmeña clarified. Before, the SCR was only open from 6:00 a.m. until 6:00 p.m.

Osmeña is confident that the Barangay Intelligence Network is capable of securing the road, this is aside from the patrol cars roving the 295-hectare SRP.

However, Osmeña clarified that motorists using the SCR are not allowed to stop and disembark anywhere along the stretch of the road in order to avoid accidents.

Last year, Osmeña issued security passes and clearances to private individuals so they can use the SCR after his fight for the ownership of the SRP which was contested by Cebu First District Rep. Eduardo Gullas, then mayor of Talisay City, who laid claim to 54 hectares of the project.

Incensed by the claim, Osmeña drove away vendors at Cebu City public markets to where known to be residents of Talisay City and closed down the SCR for Talisay City. - Garry B. Lao

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Santo Niño Image Rises at Kawit Point (Nov 2006)

A Santo Niño image rises at Kawit Point at the South Road Properties SEZ.

Existing structures inside Kawit Point include a stone fort and a building (Sugbo) with Spanish architecture. A plaza is also envisioned to rise inside where a "Cannon", which was found under the sea nearby, will be displayed.

CEBU CITY MAYOR Tomas Osmeña and Lim Liu, president of Chong Hua hospital, inspect a four-foot-tall Sto. Niño image donated to the city. The bronze image was recently mounted beside the SUGBU administration building at the former Kawit island (now Kawit Point) of the South Road Properties. cdn

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