In a recent turn of events, the Cebu City Council junked the resolution authorizing Cebu City Mayor Tomas Osmeña to sign the joint venture agreement (JVA) with a national conglomerate on developing the 8-hectare Kawit Property in South Road Properties (SRP).
The council conducted a special session this morning to deliberate on the proposed resolution which was penned by Cebu City Councilor Eugenio Gabuya Jr.
Cebu City Vice Mayor Edgar Labella voted against the resolution after there’s a tie in the council.
JG Summit wanted to lease the eight-hectare Kawit property for 50 years to build a hotel, convention center and casino, among others.
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