Private proponent proposes ‘iconic tower’ at SRP

The 5K Venture and Development Corp. met with Cebu City Mayor Michael Rama in his office on Tuesday night, January 17, 2023. to discuss the proposed iconic tower project. | PIO

CEBU CITY, Philippines — After the recently concluded in-person celebration of the Sinulog Festival 2023 at the South Road Properties (SRP), another venture is being proposed in the area.

This time, a private proponent is proposing to the city government the construction of an iconic tower that is designed by Bong Deiparine.

In a post on social media, the Cebu City Public Information Office (PIO) said that 5K Venture and Development Corp. presented to Mayor Michael Rama, Tuesday night, Jan. 17, 2023, its design of the proposed 490-meter tower.

PIO said the tower will include a 15-story hotel and a three-story luxury complex that will be built through a Private-Public Partnership (PPP) scheme on a three-hectare lot at the SRP.

CDN Digital tried to reach Mayor Rama for further details about the said closed-door meeting with the proponent, but as of this writing, calls made were not yet answered.

Security personnel reported that the celebration on Sunday at the SRP gathered more than half a million spectators.

The event on Sunday was also marked as the comeback of the physical celebration after a two-year pandemic-induced hiatus.

Rama’s decision to hold the Sinulog 2023 at the SRP was wrapped with controversy with some questioning the city government’s decision to hold it in a new venue.

The mayor, however, earlier, said that holding the internationally-acclaimed Sinulog at the SRP would help boost the economic activities there.

The city government paid the full amount of its SRP loan last August 2022.

/bmjo

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