Water supply problem to impede investments

If Cebu will not be firm enough in addressing the water shortage problem, this could be a major issue that could discourage real estate developers to invest here.

Luzon-based residential developer Landco Pacific Corporation president and chief executive officer (CEO) Alfred Xerez Burgos Jr., said the water problem in Cebu should be addressed by the local government seriously otherwise this could impede potential real estate investments.

However, he expressed confidence that Cebu could address this issue promptly saying "it's only the [local] government that can put things together to solve the water problem."

Landco is making its aggressive entry to the Southern Philippine market, through the introduction of its largest project in Cebu to build a P5 billion integrated residential facility.

The company is going to develop the huge 210-hectare prime hillside estates which cover several barangays in Cebu City Labangon, Sapang Daku, Guadalupe and Buhisan.

"The government in Cebu is responsible enough to know that water situation [here] is something to be addressed," Burgos said.

Because its project is quite big, Burgos said the company has planned out several options in order to assure enough water supply for the residential, resort and leisure development, the company is going to build.

"We thought, water is a big issue, but is something that can be addressed," he added.

He said the company is also working very closely with University of San Carlos (USC) Water Resource Center, in coordination with Metropolitan Cebu Water District (MCWD) in the project's water requirement.

Being an area adjacent to Buhisan watershed, the company could also consider some ways to install technology that will supply the project's water requirement, through deep-well, and surface water as sources.

Water recycling is also an option, for non-potable water requirement such as irrigation, among others.

Landco Pacific, a known developer in Luzon, which developed several residential resorts in Luzon, such as Punta Fuego in Batangas. For its Cebu project the company is partnering with the Villalon family, a landed and prominent Cebuano clan.

The development, which will build a complete line of real estate products, such as chic home address, townhouses, condominiums, commercial/lifestyle facility is targeted to complete in the next five to 10 years.

Composed of eight, contiguous hills with a ridge spanning over three kilometers, the development boasts of the best views of the City, with elevation of up to 500 meters above sea-level.

This project is considered as one of the few largest commercial and residential developments to be built in Cebu in the last couple of years.

Cebu's investment is one of Landco's major projects for 2007." It will be the largest and most ambitious mixed-used residential development in the region and we are proud to be doing it in Cebu," said Francis V. Ceballos, Landco's executive vice president and chief operations officer (COO).