Stench could turn off investors, but it will be resolved — CCCI
THE foul odor from the Inayawan landfill wafting through the South Road Properties (SRP) in Cebu City could turn off future investors, but a local business leader remained hopeful that the problem can be resolved before new players come in.
Ted Locson Jr., head of the external affairs division of the Cebu Chamber of Commerce and Industry (CCCI), said the stench was primarily a health concern for people at the SRP.
“It can be an issue, but I am sure this problem will be resolved before they start projects,” he said in a text message to Cebu Daily News.
The stench, he said, was already expected when the city government decided to reopen the dump site.
Locson added that the only way to solve the issue was to stop dumping waste at the landfill or treat the waste with chemicals to minimize the stench.
A win-win solution, he said, can only be achieved if the Cebu City government and affected stakeholders discuss the matter thoroughly.
Restaurants at the SRP have reported a decline in sales since the reopening of the landfill while condominium unit owners have raised concerns over the odor’s bad effects on health.
Big-ticket locators at SRP include Filinvest Land Inc. (FLI), Ayala Land Inc. and SM Prime Holdings.
SM Prime owns SM Seaside City Cebu, considered the 3rd largest shopping mall in the Philippines and 8th largest in the world, which opened in November last year.
In March this year, construction of the Cebu Ocean Park started on a vacant one-hectare lot beside the San Pedro Calungsod Chapel near the mall which is being leased by operators from SM.
The Cebu Ocean Park was initially slated to open in 2017.
FLI, on the other hand, owns a 10.6-hectare lot by the sea at the SRP where commercial and retail spaces will soon rise.
The developer is also constructing medium and high-rise buildings in City di Mare, a 40-hectare development under a joint venture with the Cebu City government.
Last year, Ayala Land and SM Prime won the bidding for a 26-hectare lot the two property giants will develop together.
The two firms are still working on a master plan for the development.
Meanwhile, the Cebu City government is also crafting a master plan to link all SRP investor plans.
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