Deed of Absolute Sale of CICC be endorsed to Provincial Board
The draft for the Deed of Absolute Sale of the Cebu International Convention Center (CICC) is set to be endorsed to the Cebu Provincial Board.
Lawyer Orvi Ortega, provincial legal officer, said once the board will authorize Cebu Provincial Governor Hilario Davide III to sign the absolute sale, all resources and staff of the provincial government at the CICC will be pulled out.
The Mandaue City Government was able to pay the remaining balance of P100 million for their acquisition of the property last week.
The Cebu Provincial Government agreed to sell the CICC to Mandaue City government for P300 million.
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