Cebu Landmaster to start Patria project before yearend
CEBU CITY, Philippines–The Cebu Landmasters Inc. (CLI) will start excavation works on the Patria de Cebu project before the year ends.
CLl President and Chief Executive Officer Jose Soberano III said that the project is now ready to start after concerns raised against its implementation were already resolved.
After the project was announced last year, Architect Melva Java and several others had opposed the development. They cited the historical and religious significance of Patria De Cebu. They also urged the Archdiocese of Cebu and CLI to come up with a design that would preserve these features.
According to Soberano, they have made changes in the design to preserve its heritage value.
Despite the redesign, the project will still cost P900 million because the structure’s gross area will remain the same, he added.
Under the lease agreement signed with the Archdiocese, Cebu Landmasters will develop the 6,670 sq.m. property. The master plan includes a retail and office component, a hotel and a Rome-inspired plaza.
The agreement allows the company to operate the new Patria de Cebu property for 40 years.
Soberano said they will ask for the adjustment in the start of the lease period because of delays in the project implementation.
The groundbreaking was originally scheduled in the first quarter of 2019 and was due for completion by 2021, in time for the 500th anniversary of the Ferdinand Magellan’s discovery of the Philippines.
Soberano said that with the delays, only the plaza and part of the retail component will be completed by 2021./dcb
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