CEBU, Philippines - The development plans of the Gotianun-led real estate conglomerate at the south road properties (SRP) are not dependent on whoever wins as the next chief executive officer of Cebu City in the upcoming national elections.
“We will continue with our plans. Regardless of who wins the election,” Filinvest vice president for Visayas and Mindanao Tristan Las Marias said on the sidelines of the topping off ceremony of Filinvest’s condominium hotel, Grand Cenia, located along Archbishop Reyes Avenue on Thursday.
He also expressed optimism that whoever will become the next Mayor will honor Filinvest’s joint-venture agreement with the City.
Las Marias said Filinvest is determined to make Cebu, through the SRP, a tourist destination. This is why the company is bullish that it will get the return-on-investment.
He estimated Filinvest’s investment in the SRP to be at around P20 billion to P25 billion in the next 10 to 15 years.
“We believe in the tourism potential. It is a priority investment area of Filinvest,” Las Marias said.
He however said that while infrastructure such as airport and roads among others, are able to support the city’s investment, the City should now be planning on improving these infrastructure to support its growth.
Las Marias said Filinvest will start the development of its 40-hectare residential “green” project, the Citta di Mare, an Italian-inspired subdivision, in May. Filinvest will develop only 30-percent of the property. The rest will be for landscaping with “trees and more greenery” to make the development a place where people can unite with the environment.
Filinvest aims to complete Citta di Mare and its commercial and retail development within the next three years.