MERGED: South Road Properties (SRP) News, Issues, and Developments

[leonell]

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New Developments in SRP:

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Filinvest already started their development for SRP with Citta de Mare:

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City by the Sea

On the 10 hectare joint venture area, a SIX MEDIUM RISE RESIDENTIAL BUILDINGS, 4 Hectare CENTRAL PARK will be built to form part of the 40 HECTARE... "CITTA DI MARE" which is Italian for " City by the Sea".

Commercial and Retail complexes, a 2,000 square meter exhibition tent, a boardwalk within fine dining restaurants and fastfood outlets will also be constructed in Pond F, the 1.1 kilometer stretch of seafront lots in the SRP.

We will build up and sell in the next five years to generate much needed traffic to make the SRP the new landmark destination not only in Cebu but also throughout the whole country, Las Marias, told the council.

Las Marias, assured the council that "Citta di Mare" will be an eco-friendly and environmentally sound" project with lot of parks and open spaces for its residents to enjoy..

On the 10 hectare joint venture area, a SIX MEDIUM RISE RESIDENTIAL BUILDINGS, 4 Hectare CENTRAL PARK will be built to form part of the 40 HECTARE... "CITTA DI MARE" which is Italian for " City by the Sea".

Commercial and Retail complexes, a 2,000 square meter exhibition tent, a boardwalk within fine dining restaurants and fastfood outlets will also be constructed in Pond F, the 1.1 kilometer stretch of seafront lots in the SRP.

We will build up and sell in the next five years to generate much needed traffic to make the SRP the new landmark destination not only in Cebu but also throughout the whole country, Las Marias, told the council.

Las Marias, assured the council that "Citta di Mare" will be an eco-friendly and environmentally sound" project with lot of parks and open spaces for its residents to enjoy..

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Bidding on P200M projects rushed

Tuesday, March 23, 2010

By Linette C. Ramos

CEBU City Hall is rushing the bidding of some P200 million worth of infrastructure projects, including road repair works, and will award the contracts before the Comelec ban on infrastructure projects takes effect on Friday.

Around P115 million worth of projects will be undertaken at the South Road Properties (SRP), P50 million at the North Reclamation Area (NRA) and some P31 million in the different barangays.

City Administrator Francisco Fernandez said the bids and awards committee (BAC) will award the contract to the winning bidders of the different projects either today or tomorrow so the project can be implemented even during the campaign period.

The City is set to fix the roads, drainage and lights in the NRA using the P50-million advance tax payment that SM Prime Holdings Inc. made last month.

2 roads

At the SRP, the City will also construct two industrial roads with sidewalks and drainage (P24.4 million), white-sand beach at Kawit Island (P15.3 million), welcome hill with tower (P28.9 million), a jetty in Pond F (P35 million), back-up water system in Kawit (P748,000) and the second phase of the senior citizens’ building (P10.6 million).

When the local campaign period starts on Friday, public officials or employees, including barangay officials and those of government-owned or -controlled corporations and their subsidiaries, are prohibited from releasing, disbursing or expending public funds for any and all kinds of public works.

The Commission on Elections (Comelec), however, exempts work undertaken by contract through public bidding held, or by negotiated contract awarded before March 26, 2010.

The ban will be in effect until May 10.

“We will sign all the contract of award before the ban takes effect on Friday. We will award everything so we will not have a problem implementing it, including the P50 million for rehabilitation of roads at the NRA,” Fernandez said.

As for purchases and infrastructure projects the City has to undertake to respond to the effects of the El Niño phenomenon, City Councilor Augustus Pe Jr. said these will be exempted from the infrastructure ban because these are considered emergency purchases.

Reminder

Lawyer Marchel Sarno, election officer for the north district, reminded the local government units on the ban on infrastructure projects, as well as the hiring and transfer of civil service employees during the campaign period.

He said that as long as the contracts for the infrastructure projects are awarded by the BAC before the campaign period starts, these may be undertaken during the campaign period.

“These may still be implemented as continuing projects. The ban is on the awarding of contracts and the disbursement of public funds for infrastructure after March 26,” Sarno said.

Assistant City Administrator Juvy Morelos said they will award the contracts for projects that have already gone through the bidding process, and will open the bids for projects awaiting action of the BAC.

“We still have to open the bids for some of these projects but we will work double time so we can award it before Friday,” she said.

The barangay infrastructure projects include the construction or improvements of concrete lined canal, drainage system, riprap works, classrooms, sports complexes, day care centers, barangay halls, road concreting and stone masonry works.

Published in the Sun.Star Cebu newspaper on March 23, 2010.

http://www.sunstar.com.ph/cebu/biddi...rojects-rushed

[leonell]

For most of his term, Tomas has focused on developing Cebu's business atmosphere in priority and with SRP as the masterpiece of his two terms as Mayor of Cebu City. The problem is, sometimes he neglects to pursue projects for the Tourism of Cebu City, he even rejected that the City Government to fund the rehabilitation of the Plaza Independencia saying that it is the National Government's responsibility since they built a tunnel below it.

The next Mayor should now focus on magnifying Cebu's stature as the top tourist haven of the Philippines and one of the few in the World. Establishing more leisure areas for tourists like perhaps our version of a Disneyland, wakeboarding complex on the pond F of SRP, rejuvenating major historical landmarks, cleaning and beautification of downtown Colon which is a potential tourist landmark in itself, cleaning of the rivers to make the City attractive. Tomas has already set the fundamentals of Cebu City's economy but failed to beautify it so it will be up to the next Mayor to do this so Cebu's perfection will come step by step.

[brangelina]

maayu si Tomas oe! active..isog lang kaayu! hehe

[leonell]

Tinuod and he is the reason why SRP is there and Cebu City is up in the business arena. But there are still things nga wala niya natagad pag-ayo sa iyang term, like ang rehabilitation unta sa mga historical landmarks ug ang protection and beautification of American Era buildings sa Colon ug ang mga rivers nga hugaw kaayo.

He has already succeeded into bringing up Cebu City's business environment. And so it will be up to the next Mayor to improve Cebu's Tourism. As of now man gud, kulang ra ang mga theme parks nato ug wala narehabilitate ang uban nga mga historical landmarks. Maong maglisod jud ta ug compete sa CamSur when it comes to satisfying the tourists. Kulang pata sa attractions within the city. Og ang mga sapa pod limpyohanan na aron dle pod malain ang mga tao sa kabaho. Humana man pag-establish and economy sa Cebu so karon we should focus on BEAUTIFYING it and turn it into the MOST BEAUTIFUL CITY in the Philippines.

[elvandesantos]

^^^plaza indepedencia is not city owned. masuko sad ang mga konsehal kun igas2 ang money sa butang dili ilaha. about sa colon na mga buildngs, private owned na sya... vmayor rama are rallying businessmen sa tga colon and asking them to rehabilitate ilang mga infrastructure. examples ani kay ang colonnade... they repainted it.

[leonell]

So dapat pagpanindot nasad sa SYudad ang priority sa sunod nga Mayor ug ang environemental issues sa Cebu City kay dle jd nato ma-underestimate ang ug matago ang epekto sa Global Warming ngari. Beautify the city and make most livable.

[digitalsuperman]

SRP to have water sports facility


CEBU, Philippines - Despite the barrage of criticisms from political rivals on Cebu City Mayor Tomas Osmeña’s alleged “mismanagement” of the South Road Properties, the Cebu Investment and Promotions Center responds to the allegations with updates on investments at the SRP.

CIPC, the marketing arm of SRP, led by its managing director Joel Mari Yu said there will be more exciting developments at the SRP, one of which is the upcoming water sports recreational facility.

Yu said the City government is now on the final stages of negotiations with a well-known developer to set up a water sports facility at the SRP. Yu, however, stopped short of revealing further details of the transaction as talks are still ongoing.

“We cannot reveal the names of the developer but we are talking to them right now and they have shown interest to develop Pond A,” Yu said.

Yu said the planned water sports facility will feature wake boarding activities. The facility will occupy 15 hectares in Pond A, a lake spanning 60-hectares located at the SRP.

“It will really give more charm for SRP. A water sports facility will also be an exciting development in that area,” he stressed.

On the other hand, Yu revealed that SRP now only has 76-hectares of unsold lots and he is encouraging interested investors to “buy now or regret later” as Osmeña plans to double the price of the unsold lots following the latest deal between the city and SM Prime Holdings Inc.

This means that interior lots that cost P8, 000 per square meter will now be sold at P16, 000 per square meter and those located along the road will go up from P11, 000 per square meter to P15, 000 per square meter.

Osmeña earlier said that the move to increase the selling price of the SRP lots is a “consequence for future buyers,” adding that it is the City Government’s way of protecting SM Prime’s initial investment since it will not be easy once competition comes in.

Joint-venture deals with Filinvest Land Inc. (52 hectares) and SM Prime Holdings (32 hectares) are now generating an estimated of P1 billion in amortizations for the city. The amount covers almost half of the P2 billion annual operating budget of Cebu City

Meanwhile, the construction of a fast ferry terminal at the former Kawit Island will soon kick off, which will be the cornerstone development of the whole SRP.

Fast ferry operator Ocean Jet is set to launch their ferries from SRP to Tagbilaran City in Bohol and Dumaguete City in Oriental Negros.

The SRP was built using borrowed funds from the JBIC, now the Japan International Cooperation Agency, with the Land Bank of the Philippines as conduit bank.

Yu said once fully-developed, SRP will become the ultimate landmark of Cebu; at the same time become a largest revenue contributor of the City.

[Automatic]

Nice....the bad thing about Tommy is that..he always make things real...Wake boarding...this I gotta see..I tried Camsur already, I'm sure this will be better and its just minutes drive away.

[lomotel]

what a nice development for Cebu!

[samsungster]

good news for cebuanos...