Executives of Filinvest Land Inc. and Cebu Holdings Inc. (CHI) agreed to resolve the dispute over access on W. Geonzon Street and a boundary wall that separates the I.T. Park from Filinvest’s Cyberzone project.
In a closed-door meeting last Friday at the office of Cebu City Vice Mayor Edgardo Labella, top officials of both property developers, accompanied by their lawyers, presented their sides on the issue.
“Eventually, it ended up with the parties agreeing, together with the province, to discuss between themselves and arrive at a win-win situation for all parties,” Labella told reporters.
The meeting was attended by CHI president Francis Monera and Tristan Las Marias, Filinvest Vice President for Visayas and Mindanao. It was the first time both officials discussed the matter face to face.
The dispute has been reported off and on in the media until Gov. Hilario Davide III and Cebu City Mayor Michael Rama intervened because of the one year delay in the opening of the BPO complex project of Filinvest, which is a joint venture with the Cebu provincial government.
Since last year Filinvest has been asking City Hall to demolish the concrete wall owned by CHI.
The wall is an old, dilapidated fence that separates the 27-hectare I.T. Park from the adjacent 1.5-hectare site of Filinvest. It was a fence of the old Cebu city jail.
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