THE Cebu City government is ready to develop the Kawit Island property in the South Road Properties (SRP).
In his press conference yesterday, Cebu City Mayor Tomas Osmeña said that they will submit anytime soon, the contract with a private company to the Cebu City Council for the latter’s approval.
“The bidding has been unchallenged. You know Filinvest bought the bid documents but they did not submit. There was one or two other inquiries about it but it did not push through,” Osmeña said.
Despite having no bidders, Osmeña said that the project will push through with Universal Hotels and Resorts Incorporated (UHRI), which is affiliated with JG Summit Inc., as the developer. UHRI he said was the only bidder who submitted bid documents.
Last year, JG Summit Inc., founded by business tycoon John Gokongwei, expressed interest in leasing the eight-hectare Kawit property for 50 years to build a hotel, convention center and casino, among others.
Osmeña said that as much as he wants to wait for other bidders, the deadline had already passed.
“I’m willing to delay if somebody wants to submit (bid documents) but I don’t know if I can. That might be illegal,” Osmeña said.
He said that he favors competition but in this case no one was interested and he cannot allow the development of Kawit to be stalled.
Osmeña said that the prospect of developing Kawit Island excites him. He said he sees the return of investor interest in the city’s premier reclaimed property especially with the construction of the Cordova-Cebu Link Expressway which will commence this year.