To take advantage of Cebu’s strength as preferred site for offshore investments especially in IT and tourism sectors, the town of Consolacion in the northern part of Cebu province is now stepping up the construction of its multi-billion commercial facility.
Consolacion Mayor Avelino Gungob Sr., announced that his administration is now doing an extensive feasibility study to develop the 207.9-hectare reclaimed site for the project, to be called Civic Center and Tourism Estate, in Cansaga Bay.
The reclaimed site is now nearing completion and will be part of the town’s five-year development plan.
According to the Mayor, Consolacion is positioning as the ICT and tourism destination in northern Cebu, and this is expected to take off in the next four years.
The Civic Center and Tourism Estate, a mixed-use facility, shall have a government center that occupies 20 hectares; another 20 hectares for commercial centers such as shopping malls and casinos; 80 hectares for tourism-related establishments such as theme parks and hotels, including high-rise buildings that cater to IT firms; and an international golf course with an area of 60 hectares.
A particular attraction in the tourism estate will be an array of food stalls that would offer favorite grilled food items and local delicacies.
"This will be our way of helping even the small investors. We might even have this accredited with the Department of Tourism," Gungob said.
He is optimistic that the project and others will be a magnet that can draw multinational investors to the town.
Gungob noted the interest of some foreign investors in the United States, Malaysia, Korea, and Japan to develop the entire project.
Already, giant developer Sta. Lucia Realty & Development Company announced its interest to put up a commercial and business complex in Consolacion.
Sta. Lucia finance officer for Cebu operations Gerry D. Quintos said in an earlier interview that company is putting in its five-year plan the development of the 9-hectare property located in Consolacion.
He said the proposed project in partnership with a Cebuano capitalist is initially called Sta. Lucia Business and Commercial Center.
He said this future project which is seen to start in the next few years, will house commercial establishments and offices.
“The commercial complex is already in our five-year plan,” Quintos said adding that there are good business prospects in commercial complex development because of Cebu’s vibrant economy, boosted by tourism and ICT investments.