CDN FILE PHOTO
Cebu City Mayor Tomas Osmeña is set to announce a major development on the South Road Properties.
Osmeña said his big announcement, which will happen in two weeks time, is the reason the advertisement on the sale of the three-hectare lot has been delayed.
He said this development will put more interest to SRP.
“Once this is announced, it will make the SRP attractive. Then we will sell the property,” said the city mayor.
He said that with the development, he is confident that the property will be sold in no time.
Although the mayor refused to give further details about the project, he assured that what he is doing is for the best interest of the people in Cebu City.
He added that once the property is sold, the residents of the city will benefit from it.
As of now, one interested buyer has been asking the city government about the project. There are also several local and foreign investors who are willing to check on the project.
The most expensive offer given to the possible buyer was P150,000 per square meter, said Osmeña.