School, fuel firm eye SRP-A A +A
Thursday, August 21, 2014
TWO more companies submitted proposals to the Cebu City Government to lease portions of the South Road Properties (SRP).
Bright Academy and Play House Children's Center wants a 25-year lease on two hectares in the SRP for a new campus.
Petroleum company Total (Philippines) Corp. informed the City of its intent to lease part of the SRP for a gasoline and service station.
Total did not specify where and how big an area it wants to lease. The company’s officials want to meet Cebu City Mayor Michael Rama to discuss the issue.
Copies of the letters of Bunny Pages, chief executive officer and chairman of Bright Academy/Play House Children's Center, and Joey Flordeliza, Total's area manager for retail development, were furnished to the Cebu City Council.
During its regular session yesterday, the council formed an ad hoc committee to study the proposals. The committee will be chaired by Councilor Mary Ann delos Santos with Councilors Hanz Abella and Eugenio Gabuya Jr. as members.
Rama said the proposals would bring additional benefits to the City as the SRP only has two major investors, SM and Filinvest Land, so far. He said the decision to accept the proposals rests with the executive branch at City Hall not the council.
SRP Manager Roberto Varquez has yet to read the proposals. But he said that the SRP management office plans to declare a portion of the reclaimed area as a school zone.
The proposed “school zone” includes the five-hectare lot donated to the University of the Philippines.
“It's a welcome development because these are crowd-generators but it may create traffic. (Good thing is) the zone is close to a u-turn slot,” Varquez told Sun.Star Cebu.
Rama said the City will study the proposals of Total and Pages.
Pages, in his letter, said Bright and Play House plan to have another campus because their 1.4-hectare property in Barangay Banilad has a growing clientele.
“Given that the SRP will be the future Makati of Cebu, where businesses and communities will soon flourish, it is important to build a world-class educational institution (there),” Pages’ letter read.
Flordeliza said Total will submit a formal proposal to the City once it has completed its study of the project.
The Cebu City Council approved a resolution authorizing Rama to negotiate on behalf of the City Government the disposal of lots at the SRP.
A manifesto of support to the resolution was signed by 22 of the 80 barangay captains in the city.
The resolution aims to sell the SRP so that the City can pay off the foreign loan used to develop the area. The city still has a balance of P3.2 billion from the P5 billion loan.
Earlier, Japanese Group I-land Ways Philippines Inc. proposed to lease 1.2 hectares of the SRP for a retirement facility. The terms of reference have yet to be approved.
SM Prime Holdings Inc. and Robinsons Land have also communicated with city officials their plan to purchase the 26-hectare lot where the San Pedro Calungsod templete stands.
Published in the Sun.Star Cebu newspaper on August 21, 2014.