Investor eyes multi-billion project at SRP

SRP File Photo

A FOREIGN investor is interested to put up a multi-billion worth of a tourism-related business at the South Road Properties.

This was confirmed by Cebu City Mayor Michael Rama although he refused to give more details pending finalization of the project.

Rama joined the foreign investor in his trip to Manila to visit the Department of Tourism (DOT) Central office.

Rama said the proposed investment is worth billions and is expected to further boost the local economy.

“It’s a huge investment but we still have to do due diligence of the area. I also have to meet with a few people so I can discuss this with them,” he said.

Rama said DOT representatives already visited the SRP earlier to check on the viability of the location for the establishment of the foreign investment.

He is yet to further discuss the proposed business with the investor and clarify how they wanted to go about the use of the SRP lot that they wanted, whether through a joint venture with the city, direct purchase, or lease.

Rama is confident that more investors would be interested in the SRP, especially if the planned third bridge that will connect the city to Cordova town would materialize.

Rama said the bridge project is something that is expected to start in a few years time, especially with the interest of Metro Pacific Tollways Corporation of businessman Manny Pangilinan to undertake the project.

The mayor left for Manila yesterday morning to visit DOT and speak with Operation Smile officials on the Cebu City Medical Center (CCMC) reconstruction project.

He was told during the meeting that Operation Smile already sent a team to Cebu City to document activities at CCMC and take their own footage for use in fund raising activities that they would soon organize.

In line with their plan to make the city hospital globally competitive, they also wanted the hospital converted into an Operation Smile Center where cleft palate surgeries may be done.

Rama will be back in the city on Tuesday yet as he will be among the godparents in the baptism of Zion, son of actor Richard Gutierrez and actress Sarah Labhati.