Mandaue to ink deal with private firm for development of CICC

By: Norman V. Mendoza - 6 years ago

Built in 2007 for the Asean Summit, the Cebu International Convention Center (CICC) needs a major makeover to be at par with other international convention centers. The facility sustained significant damage when Cebu was hit by the 7.2-magnitude earthquake last October 15, 2013. (CDN FILE PHOTO)

The Mandaue City Council is now finalizing a concession agreement between the city government and Millennium Pan-Asia for the development of the Cebu International Convention Center (CICC) and its operation in the next 50 years.

Mandaue City Mayor Luigi Quisumbing said the development project is expected to create thousands of jobs, economic activities and boost the city’s tax collection.

The city government is expected to generate at least P3 million in rentals, which are expected to increase every four years.

The developer is also expected to pay P200M to city government.

The construction of the convention hall, casino and hotel is expected to start in October this year.

READ NEXT
Conag: Talisay remains a safe place to live in
MOST READ
LATEST STORIES
Read more...
NEXT STORY