MANILA, Philippines — Cebu Landmasters Inc. (CLI), the VisMin-based property developer, hopes to start soon a planned 100-hectare reclamation project in Cebu it is undertaking with partners.
In an interview, CLI chairman Jose Soberano III said the consortium hopes to secure an environmental clearance certificate (ECC) from the Department of Environment and Natural Resources (DENR) before the end of the year.
“We’re going to build an industrial estate and we’re targeting Japanese locators in this area,” Soberano said.
He said there are not a lot of industrial zones in Cebu because the Mactan Export Processing Zones are already full.
“We hope to get the ECC soon. We’ve gone through the review committee. We’ve gone through all the compliances,” Soberano said.
He said the group is hoping to secure the ECC, which is the last step needed to get the green light from the Philippine Reclamation Authority (PRA), this year. After this, the group can proceed with the Swiss challenge process.
“That (ECC) is what is being awaited by the PRA. Hopefully this year, that is what we’re targeting. We have five more months,” Soberano said.
The proposed reclamation project is in Minglanilla town, south Cebu and was earlier approved by the Cebu Provincial Reclamation Authority (CPRA).
As proposed, the Minglanilla – Ming Mori Reclamation and Industrial Park Development Project is a Public-Private Partnership (PPP) with Ming-Mori Development Corp. represented by Soberano as chairman and president.
According to the plan, the consortium will develop an industrial park in partnership with the municipality of Minglanilla and PRA.
The proponent, the Ming-Mori Development Corp. is a consortium with a Japanese real estate developer.
The site will also include a small commercial area mixed-use development, Soberano said.
“We have been doing small community malls about, 6,000 square meters,” he said.
It’s not in the plan to put a hotel, but it may also be considered, he said.
The construction of the industrial park will be done in five phases, which will be completed in five years, according to Cebu-based media.
A total of 49 percent of the reclaimed land will be owned by the private developer, while 51 percent will be shared among the PRA, municipal government and the province of Cebu, the reports also said.
The project will have 51 hectares for an industrial zone. Other areas will be set aside for commercial, institutional, and residential use, and mixed-used zones.
Minglanilla is a first-class municipality in Cebu.
CLI, which became a publicly listed company last year, is also into various developments including its mass housing, single-detached houses, condominium units and hotels.
The company has formed a strategic alliance with Singapore-based The Ascott Limited to double CLI’s number of apartment units to 1,600 units by 2022 from 804 at present.