Capitol to continue talks with developers
A court order won’t stop the Cebu provincial government from continuing its negotiations with the two real estate developers in the area that are at odds over the perimeter wall along W. Geonzon Street in the Cebu I.T Park.
Despite the preliminary injunction issued anew by the court for the wall’s non-removal, Provincial Board (PB) Member Grecilda “Gigi” Sanchez-Zaballero said they will proceed with the talks.
A memorandum of agreement (MOA) to “open the wall” has already been drafted by the province, she said.
When the Cebu Property Ventures and Development Corp. (CPVDC) and Filinvest Land Inc. (FLI) agree to its conditions, the preliminary injunction issued by Executive Judge Soliver Peras of the Cebu City Regional Trial Court will become “moot and academic,” Zaballero said.
“Hopefully before Christmas, we can resolve this already. This is also the request of the governor,” she said.
Request
Aside from Zaballero, Vice Gov. Agnes Magpale and Provincial Administrator Mark Tolentino are also involved in the negotiations.
Zaballero said the negotiation’s final hurdle revolves over the positioning of Filinvest Cebu Cyberzone’s loading bay and parking lot.
If the wall is torn down, Filinvest management wants their loading bay and parking lot located in front of their building.
She said the Ayala-owned CPVDC has yet to give in to the request until now since it runs counter to the rules of all the locators inside the I.T. Park.
“Ayala just wants Filinvest to abide by their locators’ rules and regulations,” Zaballero said.
Cebu province is connected with both companies; first as a a shareholder in CPVDC and second with Filinvest as a partner in its business process outsourcing complex (BPO) project via a Build-Transfer-Operate scheme.
The Filinvest’ Cyberzone building was inaugurated last Nov. 28 but it can’t fully open because the wall is in front of the building’s main facade and entrance.
The province is set to earn P500,000 every month from the rental or two percent share from the gross revenue generated from the locators, whichever is higher.
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