Funding on SRP drainage masterplan still undecided

CEBU, Philippines – A decision has not been made yet whether the Cebu City government or the developers at the South Road Properties will fund the implementation of the drainage masterplan for SRP, an official said.

Allan Alfon, vice president for strategic business planning for Visayas of Filinvest Land Inc., one of the developers at SRP, said they will continue to discuss the matter with the city government. Alfon heads the task force created to solve the flooding problem at the SRP.

Alfon, in an interview yesterday, said the masterplan, which was initially estimated to cost P2 million, has not yet been completed but added a proposal is already there.

FLI and the two other SRP developers – Ayala Land and SM Prime – had tapped consultancy firm DCCD Engineering Corp. to create the engineering design for the drainage project.

While the masterplan is still ongoing, Alfon said that FLI, for its part, has already adopted measures to prevent flooding during rain in its developments at the reclaimed area.

FLI is developing a 50.4-hectare mixed-use project there. Last year it also bought another 19.2-hectare SRP lot worth P6.76 billion from the city government.

SM Prime and Ayala also won last year the deal to jointly develop a 26.34-hectare lot, also within the SRP, for P10 billion. — Carlo S. Lorenciana (FREEMAN)