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

[cobraKing]

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sugod ni sa pinaka gamay na trabahanti hangtod ni sa pinaka taas ug position mka benefit jud tanan..like kanang mga karpentiro dha din mga driver..dako au ni ug tabang sa mga tao..hopefully lng jud molambo pa ug maau ang cebu..

and hopefully dli nsad ni mobabag ang capitol ani basin masuya nsad or unsa..

[emailroy2002]

sus maryosip... maka igit ko sa ilang kwarta!! panghatag mo og milyones oi!! hahaha.

[joan624]

yey gwapo nag samot ang Cebu City tungod ani nga project, like Mayor Mike Rama!

[miyay]

pagsugod na sa mga construction para mutaas ato investment

[jrconde]

nindut nani cya sa mga tao mag balay sa south. para duol lng sa SM SRP.

[cebulifer]

okay... where will the money go? towards paying the loan? or what projects are in the works?

[dodong69]

bayad sa utang na boss.

[lomotel]

SM Prime pays city P109 million
By Jessica Ann R. Pareja/NLQ (The Freeman) Updated July 15, 2010 12:00 AM

CEBU, Philippines - SM Prime Holdings Inc. yesterday turned over to Cebu City a check for P109 million representing its third payment for the purchase of 30.41 hectares at the South Road Properties.

SM has paid the city roughly P896 million so far and will be paying the rest of the P2.7 billion deal in six years.

Last January, SM paid the city P406 million after signing the conditional sale.

The company also paid a P270.9 million bid bond last year which became part of the down payment. These two payments represent 25 percent of the total amount they owe the city government.

The 75 percent balance or P2,032,283,000 is payable in six years. SM will be paying the city in a quarterly installment basis.



The first quarterly payment was done last April where SM paid the city a total of P110,082,050. Yesterday’s payment was exactly worth P109,023,568.75.

Another payment will be made in October and December to complete the P433 million they have to pay for this year.

SM plans to invest P21 billion for a mixed use development project at the SRP.

The project will not only include a mall that is 10 times bigger than the existing one at the North Reclamation Area, but will also include a two-hectare convention center, which will be the biggest in the Visayas, two hotels and a residential building or condominium.

They also want to build a university and a hospital as part of the long-term plan.

[lomotel]

SM COMPLEX in SRP

[thaDUKE]

nindot na kaau ang sugbo progressive city dre sa pinas