Joint venture deal at Kawit put on hold

By: Morexette B. Erram May 08,2018 - 08:29 PM

The joint venture agreement (JVA) between Cebu City and Universal Hotels and Resorts Inc. (UHRI) on developing the Kawit Property was referred back for review to the City Council’s ad hoc committee.

This came after Councilor Raymond Alvin Garcia, ad-hoc committee member, filed a motion to review the agreement.

Eight councilors from the opposition Barug Team Rama party voted in favor of Garcia’s motion while seven from the administration’s Bando Osmeña Pundok Kauswagan (BOPK) voted against it.

Councilor Sisinio Andales, BO-PK member and ad hoc committee member, abstained from voting. The ad-hoc committee formed last March and chaired by Councilor Renato Osmeña Jr. is tasked to review the P18-billion deal to develop the eight-hectare Kawit site at the South Road Properties (SRP).

Sought for comment, Cebu City Mayor Tomas Osmeña said he is not surprised by the council’s decision since the opposition holds the majority. “I expected it. What are they afraid of,” said Osmeña who attended Tuesday’s council session.

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TAGS: deal, joint, Kawit, venture

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