Tomas: SRP to accept locators when it's ready

Cebu City Mayor Tomas Osmeña said it doesn't really matter when the South Road Properties (SRP) could fully take off in terms of accommodating operational investments, what matters most is when it is ready, it would be something that Cebu can be proud of.

"I don't serve the cake until it is baked. We have to do it correctly," said Cebu City Mayor Tomas R. Osmeña referring to the readiness of SRP to accommodate interested investors.

"We are not going to open a make-shift development. It should be something that Cebu can be proud of," the Mayor added.

According to Osmeña, marketing the 300-hectare SRP is not a problem for now, as long as there is a line up of interested investors who wanted to come. However, he said the Cebu City government is going to carefully choose what kind of projects will be prioritized for approval.

"Big players will come first [wholesale investors]. We are very careful in attacking the heart of SRP," the Mayor said referring to the three huge investors like Bigfoot Group, whose proposal include a Yatch Club and a huge Movie Studio; the Filinvest Group that will develop a commercial project inside the SRP; and the Singaporean-company called Cebutainer Systems Corporation which needs 20-hectare for its facility.

He said the internal road problems will be built shortly, as well as the installation of telecommunication infrastructure, among others, as soon as the huge investors will finally and formally agree to come in.

"I am not a time-frame person. We have to do the lay-out of SRP very carefully," he reiterated.

Cebu Investment and Promotion Center (CIPC) managing director Joel Mari S. Yu said the roads must be built first, power and water supply be put in place.

At least six investors may start building their facilities at the 300-hectare South Road Properties (SRP) this year, as soon as the primary infrastructures will be immediately provided.

The Cebu City government, the developer of SRP is now talking with 15 investors that expressed strong interest to locate at the SRP, but the property still has to complete the necessary infrastructure requirement like water supply, power, and roads, in order to accommodate these investors.

Other interested investors include; Taiwanese firm Paul Yu Group of Companies; JY Construction; Arcenas Group; Pakna-an Central Development Corporation; an American company to build Cardiovascular Hospital, Mactan Rock Industries Corporation; Filinvest-to build a commercial center; Ayala Land; King Group of Companies; Japanese-owned Kurata company to construct a condominium facility; University of Cebu; and another Japanese company called Sonnette to build a retirement village for Japanese market.