(The Freeman) Updated June 26, 2009 12:00 AM
CEBU, Philippines – To assure barangay Kasambagan that no flooding will occur in the area, Filinvest Land Inc. will finance drainage and road repair for its One Oasis Mabolo Project, a condominium project between barangays Kasambagan and Mabolo.
FLI Vice President for Visayas and Mindanao Tristan Las Marias made the commitment to Mayor Tomas Osmeña yesterday.
Osmeña said the city is helping FLI carry out with their project “but it doesn’t mean we are abandoning the people of Kasambagan. I mean, fair is fair,” Osmeña said.
Councilor Augustus Pe yesterday said the technical group of FLI, as well as the city’s engineering staff and officials of barangay Kasambagan are now holding meetings to determine the necessities for drainage and road repair.
The Kasambagan barangay council recently denied FLI an endorsement for its application for an environmental compliance certificate for the One Oasis Mabolo project, saying the project is seen to cause flooding in at least six sitios in the barangay.
The project would also reportedly flood an existing subdivision because it will block the exit of rainwater coming from the Cebu Country Club.
FLI is the city’s first investor at the South Road Properties with a P25 billion project, which will be implemented through a Joint Venture Agreement. —Ferliza C. Contratista/JMO (THE FREEMAN)
(The Freeman) Updated June 25, 2009 12:00 AM
CEBU, Philippines - Mayor Tomas Osmeña has met with PLDT and Smart Communications Chairman Manny Pangilinan to discuss the possibility for the business mogul to invest at an extension of the MD Anderson Cancer Center at the South Road Properties.
Osmeña said the meeting went “very well” but nothing was finalized, especially on how much Pangilinan would invest in the project. The city has proposed for the business mogul to provide the equipment and facilities needed by the cancer center.
Osmeña met with Pangilinan in Manila the other day. Pangilinan was ranked the 39th richest man in the Philippines last year with a net worth of US$ 39 million.
Osmeña said another meeting will be arranged with Pangilinan and officials of Filinvest Land Inc., which the city wants to provide the land and the center itself. Filinvest is the very first investor at the South Road Properties.
The mayor was also set to meet with Senator Loren Legarda, chairperson of the Senate Committee on Health, but later chose to do so after he returns from the United States.
He said he would also meet with officials from the Department of Health, Philippine Medical Association, and Philippine Regulatory Commission, among others.
“I’ll meet them when I get back. I anticipate some opposition from the locals in the name of nationalism because you know, the market of this hospital is not really the Philippines,” Osmeña said.
Osmeña said he will also make an initial presentation of the project to officials of MD Anderson Cancer Center and would invite the officials to Cebu City. It was at the center where Osmeña was treated for his cancer of the urinary bladder.
Osmeña said a branch of the cancer center in Cebu will be the “biggest opportunity of the Philippines as far as medical tourism is concerned” and the city will target countries that are possible markets for the center.
So far, a prince from Brunei and a large firm in India have reportedly expressed interest to invest in the project, he said.
Aside from providing a topnotch facility to countries far from the US, Osmeña said the MD Anderson Cancer Center would also be a venue to facilitate research and development, as well as the transfer of technology to the locales.
“You know, they can validate alternative medicine like mixing of kamunggay with, you know, a potion here, lotion there, kanang mga Arthro-Arthro ba. I’m serious because they are claiming to cure these kinds of diseases,” he said.
MD Anderson has reportedly invented 17 new cancer treatments in five years and is working on six more treatments. — Ferliza C. Contratista/JMO (THE FREEMAN)
(The Freeman) Updated June 24, 2009 12:00 AM
CEBU, Philippines – Cebu City Mayor Tomas Osmeña went to Manila yesterday to lay out plans to have the MD Anderson Cancer Center open a branch at the South Road Properties.
The said plans, he said, will be presented to officials of MD Anderson, University of Texas, Houston, when he will undergo a checkup next week.
Osmeña said he met with “hospital king” Manny Pangilinan for
a possible joint undertaking to realize the MD Anderson plan at the SRP.
“The meeting went on very well. It was exploratory. As suggested they will meet with Filinvest for a possible joint effort at the SRP,” Osmeña said.
In earlier interviews he said the hospital will have to be built in the 50.6-hectare area of Filinvest Land Inc. who will also build the building.
Another player needed is someone who could supply and organize the hospital which is the expertise of Pangilinan.
If things go as planned, operations and manpower will be filled in by MD Anderson.
Osmeña said, MD Anderson can’t put up a branch outside Texas as it is state-owned and so it was necessary for him to organize the players jointly.
Osmeña had his treatment and surgery for urinary bladder cancer at the said center which is considered as the best cancer center in the world.
Having MD Anderson at SRP has the Middle East, Australia and the whole Asia as a market since it is nearer than their hospital in Houston.
“Desperate people, those who wanted to live and get cured will go to MD Anderson, there was even one who will fly in and fly out from Hong Kong to Houston for treatment,” he said.
The hospital earns around $1,000 a day for the stay alone, exclusive of the chemotherapy and other treatment fees.
He said there was also a day in which the center earned $6.5 million for chemotherapy.
It is also preferable to have the center within the 50.6 hectare area of the FLI project considering that the patients will have to rent apartments and condominiums.
The patient’s relatives and friends will also be accommodated by the units that will be built soon.
Pangilinan is the president of SMART and Philippine Long Distance Company is in a hospital-buying-and-investing spree in Visayas and Mindanao.
He heads Metro Pacific Investment Corporation and owns leading hospitals such as Makati Medical Center. – Ferliza C. Contratista/BRP (THE FREEMAN)
By Ferliza C. Contratista (The Freeman) Updated June 23, 2009 12:00 AM
CEBU, Philippines – Is Cebu City Mayor Tomas Osmeña running for congressman in 2010? He said that he will in order to protect the South Road Properties (SRP).
The mayor said that it is important that they protect the city’s interest in the SRP and wants somebody from their family to seek the congressional seat of the South District now being held by Antonio Cuenco, who is in his third and last term.
Osmeña said that it would either be him, his wife Margot or his sister Ma. Victoria ‘Minnie,’ who will be running for congress.
Vice Mayor Michael Rama, who has been touted as a very good bet for the congressional seat in the south, has already been anointed by Osmeña as the mayoralty bet of the Bando Osmeña Pundok Kauswagan (BOPK).
The move to have an Osmeña run for congress is also meant to help stop opposition leader Jonathan Guardo, who ran and lost in 2007, but has relentlessly pursued his desire to reach out to the voters of the district.
“It’s either Minnie, Margot or me, I can’t afford just anyone to become congressman of South District, because the SRP is there,” Osmeña said.
While Minnie has already expressed intention to run for congress, Margot, the mayor’s wife, has repeatedly said that she is not running for public office. Despite that, she remains popular among the barangay captains not as congresswoman though, but as replacement of her husband at City Hall.
The mayor said that he would not force Rama to seek the congressional seat.
“If I will force Mike, it will appear that I will have my own agenda,” Osmeña said.
Majority of the barangay captains, he said, dislike Rama and have already come up with two manifestos.
The latest manifesto, which called for a Margot-Cong. Raul del Mar tandem, was delivered last week, a few days after Osmeña pleaded the barangay heads to give Rama a chance.
The manifesto was signed by 56 of the 80 barangay heads in Cebu City.
Osmeña, however, assured that the manifesto would not affect his stand of having Rama as BOPK standard bearer next year.
He said that the opposition has no candidates anyway.
“Again they are recycled losers, di ko mupusta sa bihag, Mike Rama won against Raymond Garcia by 150,000 votes, besides Mike now is getting better,” Osmeña said.
Guardo’s Comment
Guardo said that the mayor is just making the SRP as an excuse when the truth is, he doesn’t want to step down from power.
“Alibi ra na. He doesn’t want a Carillo (Gerardo) or an Abellanosa (Rodrigo) or a Rama to run for a big position. Gusto niya Osmeña tanan. It will be Margot for Mayor, Minnie for congress in north and Tomas in the south,” Guardo said.
On his spending to win over the residents, Guardo said, the mayor’s party, Bando Osmeña Pundok Kauswagan (BOPK) has also been giving P2000 to senior citizens, millions of pesos in road asphalting, while Carillo is staging discos and concerts.
All these he said are already preparation for 2010.
Another opposition leader, former Mayor Alvin Garcia said the mayor should now take things easy.
“I think he should enjoy the remaining years of his life like me. He deserves it. He should avoid stress and relax more. Besides from his background, he won’t make a good legislator, it would be unfair to the city,” Garcia said.
Rama Speaks Out
Rama denied that he is not being fair in serving the barangay captains.
This after barangay captains from the north alleged that he doesn’t have any accomplishment or project in their district.
“That is of course not true, I have records of my projects and my undertakings that would show, had benefited both districts, my projects are not directly given to them,” Rama said.
These include his traffic and decongesting programs; cultural and historical events such Pasko sa Sugbo, Pasko sa Carbon, Buhing Kalbaryo and most popularly his being chairman of the Sinulog Foundation Inc.
The Sinulog Foundation, he said, earned millions in income which will translate to barangay’s share as Internal Revenue Allotment (IRA) once it reaches the National Treasury.
He also listed programs on Coastal Clean up, the rehabilitation of the City Hall Legislative Building and the number of times he served as Acting Mayor.
“Nakalimot sila nga dili pa ko mayor, that’s why, make me your mayor, tagae ko og chance and dinha ninyo makita ang proyekto diretso ninyo,” Rama said
Contenders
Meanwhile Osmeña said he would be willing to take in barangay Luz captain Nida Cabrera and a social worker Alvin Dizon as candidates to replace the outgoing Councilors.
“These are strong contenders, I always believe in government based on participation, sukad na sukad nangita jud ko og agi sa mga NGOs,” Osmeña said.
The two were formally announced as candidates by the Bag-ong Katipunan Alang sa Katilingbanong Katarungan (Bag-ong Katipunan) movement last Saturday.
Outgoing councilors include Abellanosa, Carillo, Arsenio Pacaña, Sylvan Jack Jakosalem and Christopher Alix. —/NLQ (THE FREEMAN)
By Ehda M. Dagooc (The Freeman) Updated June 22, 2009 12:00 AM
CEBU, Philippines - Despite the unending controversies hounding the Cebu City developed South Road Properties (SRP), real estate giant Filinvest Land Inc. (FLI) is bent on pursuing its P25 billion project in the area.
FLI vice president for the Visayas and Mindanao Tristan Las Marias said the company intends to break grounds for the SRP project early next year.
By year-end, FLI targets to finish the master plan for the entire 40-hectare lot that is covered by its joint venture with the Cebu City government.
The multi-residential development, he said will give Cebu City another landmark that will have an international flavor, as well as attract the local investors.
Under the contract of the FLI-Cebu City joint venture, the development master plan for the property is to be approved by the City Council within 10 to 12 months after the contract signing last February.
He said Filinvest has commissioned the services of foreign consultants and international master planners for the development design.
“We want the development to have an international flavor to sell it not just locally but also internationally,” said Las Marias.
As of this point, FLI has not committed a name for the project yet, he said adding that as per the company’s commitment to the City Council, the development will be mainly multi-residential type with medium rise buildings, condominium units.
FLI is riding on the bandwagon of developing environment-friendly buildings or “eco-cities.”
He described the FLI “eco-city” as having more pedestrian roads, central parks, its own school, church, central terminal, among others.
It will be a self-sustaining residential project,” he said.
“The deal is a good way for Cebuanos to feel proud. This is going to be the next global city in the Philippines,” he said.
The Cebu City government stands to earn from the outright sale amounting to P1.546 billion for the first three years, and from its 10-percent share in the sale of built-up units in the 40-ha area, or a minimum guaranteed return, whichever is higher.
The properties covered by the joint venture will be developed in 20 years, at 10-ha for a maximum of five years.
Las Marias said that FLI is open to talk to other developers that have plans to invest at the SRP to accommodate offices and businesses. He added that this will result in an integrated land use and a complimentary product mix at SRP.
He too assured that FLI is determined to push through its multi-billion peso residential project at the SRP as he is confident the political issues raised against the company’s investment there “have become fewer.
The Gotianun-led Filinvest Development Corporation, is one of the largest developers in the Philippines, developed close to 2,000 hectares of land in the last four decades, shopping centers, it also engaged in different businesses like banking (East West Bank), and projects like shopping centers, central business districts, high-rise offices, and condominiums, recreational farms, leisure clubs, industrial estates and an information technology park.
Excluding the investments put in its leisure group in Seascapes, Filinvest Land has already spent P5 billion in real estate developments in Cebu in the last three years. Combined, the company has put up close to P10 billion in investments in the last few years.
CEBU, Philippines - After it successfully promoted Cebu as an ICT (Information Communication Technology) hub, Cebu will adopt a re-packaging campaign to lump together investments and tourism in the province.
(The Freeman) Updated June 08, 2009 12:00 AM
Cebu Investments and Promotions Center (CIPC) will soon draft an effective and unique promotional campaign for Cebu to re-package Cebu City as retirement and medical tourism hub, that will entice foreigners not just to visit here, but also make some investments in properties, such as condominiums.
Joining the program already introduced by the Department of Tourism (DOT) called as the “Live Your Dream” campaign, CIPC managing director Joel Mari S. Yu said Cebu will have a re-packaging bid as interest now especially from the foreign market, is not only considering Cebu as an investment hub, but also a good site for “vacation homes.”
This idea came about, after the CIPC noticed a drastic slowdown of ICT related investments in Cebu in the last few months, because of the continuous financial difficulties in the United States.
“We are always tied to the United States. Although the BPO [Business Process Outsourcing] is here to stay, and not at all a fad, but we also have to do something bigger and maximize our potential as attractive site for ‘vacation homes’,” Yu said in an interview.
Yu said CIPC saw a reduction of investors’ inquiries especially for BPO investments in Cebu in the last few months.
“Before, we used to entertain inquiries of investors once a week, now it will average from one to twice a month,” Yu said.
CIPC still has to finalize this re-packaging plan, Yu said adding that what will be the hottest destination for offering in this campaign is the 300-hectare South Road Properties (SRP).
Despite the ongoing controversy over the government-developed property, Yu said “everybody knows this is a political show. And there’s nothing wrong with the Filinvest investment.”
Yu said Cebu has to come up with a bigger program in terms of promotion and taking advantage of a rich pool of investors looking for vacation homes outside their respective countries, could bring in more money to Cebu.
DOT’s Live Your Dream" campaign, on the other hand, is an investment-tourism strategy to lure foreigners, such as the active retirees to invest on "vacation homes" in the Philippines.
If the campaign could attract at least 1,000 foreign buyers, and each would buy at least US$100,000 worth of vacation homes, it could easily generate US$100 million revenue to the Philippine economy.
DOT secretary Joseph Ace Durano earlier said that this concept was developed following the high satisfaction rate of the Philippines, as a destination to foreign travelers. Record shows that Philippines generated 87 percent satisfaction rate among foreign tourists. — Ehda M. Dagooc
CEBU, Philippines – While a cancer center at the South Road Properties is seen to attract clients from other countries in Asia, Australia, and the Middle East, Mayor Tomas Osmeña said yesterday the city may not be able to give its final word to the MD Anderson Cancer Center by August.
The MD Anderson Cancer Center of the University of Texas in the United States has expressed intention to invest on a cancer center at the SRP but Osmeña says the same faces several obstacles, one of which is the fact that the institution is state-owned, thereby, not allowed to invest outside Texas.
“They are not even allowed to put up in California…how much more in the Philippines? So somebody else can invest for them,” Osmeña said.
(The Freeman) Updated June 05, 2009 12:00 AM
The MD Anderson Cancer Center is considered to be the best in the world.
Aside from this, Osmeña said all stakeholders must also be fully cooperative to the proposed project.
“It’s like Tiger Woods wanting to come here in the Philippines…and so I have to organize the tournament, get the players interested,” Osmeña said.
Osmeña said the city is eyeing several possible investors that may best provide the building and equipment, however, the management of the institution will solely be by MD Anderson.
“Desperate people, those who wanted to live and get cured will go to MD Anderson. There was even one who will fly in and fly out of Hongkong to Houston for treatment,” he said.
The cancer center earns around $1,000 a day for the bed alone, exclusive of the chemotherapy and other treatment fees.
There was even a time when the center earned $6.5 million for one day from chemotherapy.
“I think this is the assignment that the Sto. Niño gave me, I will let you live bring MD Anderson here,” the mayor said.
Should the project pushes through, Osmeña said it is preferable that the cancer center will be located within the 50.6-hectare area of the Filinvest Land Inc. project, considering that the patients will have to rent apartments and condominiums.
The patients, relatives and friends will also be accommodated by the units that will be built soon by Filinvest.
Meanwhile, Osmeña said the city is not interested to pursue with a Joint Venture Agreement with the Korean investor who wants to build a condominium hotel at the Kawit Island. The investor reportedly failed to show proof of its track record.
Aside from this, Osmeña said the Kawit Island is not for sale, something that the Korean investor would want to do.
The Korean investor and another American investor met with Osmeña over the weekend to express interest to engage in a project similar to that of Filinvest. But Osmeña said he does not want a “white elephant” at the SRP.
“I don’t want that. I don’t want the investors to compete and kill each other. They should be specialized so that they will earn,” Osmeña said. – Ferliza C. Contratista/JMO (THE FREEMAN)
By Rhia de Pablo (The Freeman) Updated June 05, 2009 12:00 AM
CEBU, Philippines – Looking at the huge potential of the tourism industry, SM Investments Corporation’s (SMIC) hotel and entertainment segment unveiled plans to roll out a mid-end hotel brand nationwide that will maximize their properties near its existing regional malls.
With an earmarked budget of P2 billion, SMIC plans to open 15 branches of Traveller’s Hotel nationwide, which will capitalize on the flourishing domestic and foreign tourism industry in the country, said SMIC executive vice president and chief financial officer Jose T. Sio in an interview. here
Sio said the planned 15 branches will be put up by the company in a span of 10 years and among the initial locations being considered include Cebu, Iloilo, Bacolod, Davao, Baguio, Naga and other major cities with existing SM Mall operations.
He said that the first branch of Traveller’s Hotel will be opened in Bacolod City near the SM mall. The project is currently under its design stage and construction is targeted to kick off anytime this year.
“We want to maximize the usage of our properties near our SM Malls. We saw the potential of putting up quality hotels near our malls so we can provide a synergy of services to our guests because they can get all their needs in one location,” said Sio.
He said that the Traveller’s hotel will be a mid-level boutique hotel that will specifically cater to the growing domestic tourism in the country.
Sio said that the hotel will have around 50 to 100 rooms and the average accommodation rate per night will cost around 50 US dollars or around P2, 000 to P2, 500.
Meanwhile, in Cebu, Sio said they are looking for available space that is adequate enough for the hotel project as they are already anticipating the operations of their P2.5 billion Radisson Hotel project near SM City Cebu that is targeted to open this December.
He said that they are also allocating around P400 million for the construction of a smaller version of the SM X convention center here in Cebu near the mall. Construction is targeted to start during the latter part of 2010 and will be completed by 2011.
Sio said that SMIC is planning to acquire more land at proper reasonable prices for their banks, malls, residential and hotel operations and planned expansions.
Meanwhile, SMIC president Harley Sy said that their plans of acquiring lots in the South Road Properties (SRP) here in Cebu for their mall expansions will depend on present situations. He, however refused to give out more details about these plans.
“We believe in Cebu’s local economy. Your tourism sector has done a very good job and we can even say that now it’s even safer to be here than in Manila. We continually look out for areas in Cebu where we can expand our business and provide more service to the local public,” he said.
He said that SMIC is taking advantage of the slowdown in the property sector that resulted from the present global economic crunch as they are currently acquiring more properties near their existing mall operations, and areas near transport hubs and schools for their future expansion projects.
“We came up with our own business model to take advantage of what is selling at the moment considering the global crisis,” said Sy.
(The Freeman) Updated June 04, 2009 12:00 AM
CEBU, Philippines - Cebu City Mayor Tomas Osmeña yesterday said the selling of another lots at the South Road Properties (SRP) will have to wait.
Osmeña, who met with a probable locator of the SRP yesterday, said the selling of lots of the SRP will have to be put aside after another sale or two.
“We just want to let Filinvest project kick off,” Osmeña said in a text message.
Filinvest Land Inc. (FLI) entered into a joint venture agreement with the city government for the development of 50.6 hectare lot at SRP.
Osmeña said he doesn’t want businesses competing at the SRP and wanted the city to regulate the sale of other lots.
Yesterday, he did not report to the City Hall but has met with the Korean investors interested to develop the whole Kawit Island for hotel and condominium project.
“They want Kawit, I said not for sale,” Osmeña said.
He said the Korean investors also interested to invest in other areas of the SRP.
Osmeña earlier said the Korean investors may however enter into a joint venture with the city to develop Kawit.
Last Sunday, the mayor also met with American investor John Baldwin of Bridge Capital who is interested to put up projects at the SRP.
According to reports, Balwin showed the mayor actual plans for his SRP projects. Baldwin’s company developed a major tourism project in Cambodia.
Filinvest is set to begin its project in the next two months. Its investment is expected to reach P25 billion in 20 years. — Ferliza C. Contratista/LPM (THE FREEMAN)
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