Filinvest, CPVDC now neighbors
Joseph Yap, president of Cyberzone Properties, Inc. and director of Filinvest Land, Inc., Cebu Vice Gov. Agnes Magpale, Cebu Gov. Hilario Davide III; Aniceto Bisnar Jr.. president of the Cebu Property Ventures and Development Corp. (CPVDC) and Iris Joseph-Mediano, VP and Head of CPCDC Business Development Group, join hands after the signing of two agreements that end a two-year dispute over road access in the IT Park to Filinvest’s new BPO project next year door. (CDN PHOTO/ JUNJIE MENDOZA)
A two-year dispute over a wall in the Cebu IT Park separating the properties of two rival developers is over.
The Cebu provincial government signed two agreements yesterday with Filinvest Land Inc. and the Ayala-led Cebu Property Ventures and Development Corp. (CPVDC) that would open access to a fenced portion of W. Geonzon Street in barangay Apas, Cebu City.
After the signing, at a date still to be set, the concrete wall of CPVDC will be torn down to allow pedestrian access and “limited vehicular ingress and egress”.
The access would allow operations to go full blast in the newly completed Filinvest Cebu Cyberzone, a joint venture of the Province of Cebu as land owner and Filinvest.
When all four BPO towers are finished, Filinvest projects at least 20,000 jobs in Cebu.
The BPO hub was inaugurated in Nov. 28, 2014 but couldn’t fully operate because the facade and main driveway face a wall owned by its next-door neighbor, the IT Park.
In exchange for this access, the Province of Cebu will provide additional access points to and from Cebu IT Park through certain points on Salinas Drive and Gov. Cuenco Avenue.
Access to Gov. Cuenco Ave. will be through two new roads that cut through the proposed site of the Ciudad project, connecting Cebu IT Park to the Banilad-Talamban corridor.
Venture
In a speech after the signing, Filinvest director Joseph Yap said he looks forward to the early demolition of the wall so that the BPO hub could start full commercial operation.
“The Filinvest Cebu Cyberzone is a project we take pride in. This technology hub is a boost to Cebu’s bustling economy and upon its completion; we believe it will provide at least 20,000 jobs for the people of Cebu,” said Yap, who is also the president of the Cyberzone Properties Inc.
Provincial Administrator Mark Tolentino said the wall will go down immediately once the court case filed by CPVDC against Filinvest is dismissed.
Last year, the Regional Trial Court t issued a temporary restraining order to prevent CPVDC or the Cebu city government from demolishing the wall, which is private property.
The newly signed agreements will be sent to the court for the dismissal of the case.
Extended
Cebu Gov. Hilario Davide III signed on behalf of the province, Yap for Filinvest and CPVDC president Aniceto Bisnar.
Also present during the signing were representatives of Filinvest and Provincial Board members.
During the tenure of then governor Gwendolyn Garcia, the province signed a 25-year Build-Transfer-Operate (BTO) agreement with Filinvest for a BPO complex at the province-owned lot beside the Cebu IT Park.
The BTO agreement was extended to 30 years so Filinvest can recover its losses due to the delay of its operations.
The agreement states that Filinvest will pay the provincial P500,000 monthly or five percent of the total gross revenue of the estate, whichever is higher.
Boundary
Filinvest soft-opened Tower 1 of its BPO complex last Nov. 28, 2014 but could not start commercial operations due to the perimeter wall in front of its facade.
The resolution of the two-year conflict was negotiated by Capitol officials who spoke separately with Filinvest and CPVDC after the dispute deepened with the court action and threats of the Cebu City government to demolish the wall.
CPVDC president Bisnar said he’s glad that their company strengthened its relationship with the province.
The IT Park stands in the old Lahug airport which used to be province-owned property.
The Cebu provincial government has been a partner of CPVDC since its establishment in 1990.
“We hope that this will pave the way for even more collaboration for the economic development of Cebu province,” said Bisnar who just assumed as CPVDC president late last year.
Traffic
Cebu IT Park is home to at least 42,000 employees from all over Cebu and the rest of Visayas and Mindanao.
With the opening of the new FLI Cebu Cyberzone, traffic is expected to build up around the Cebu IT Park area even more.
Bisnar said IT Park’s tenants have an association with its own traffic and security management system which manages traffic inside the area.
Bisnar said the management of Cebu IT Park will coordinate with the traffic management office of the city.
Cebu Vice Gov. Agnes Magpale, who was instrumental in the negotiations, said the provincial government recognized the need for the project initiated by Filinvest.
Settlers
“We are partners with FLI, yet we are also partners with CPVDC. So the challenge for us was to really come up with a win-win solution. So, we finally made it,” she said.
Cebu City officials welcomed the agreement of Filinvest , CPVDC and the Cebu provincial government.
“I just hope that no residents will be displaced with the opening of the access roads. Hopefully, the provincial government will coordinate with us and we can talk in order to help the settlers that might be affected,” Apas barangay chairman Ramil Ayuman said.
Cebu City Councilor Alvin Arcilla, a former barangay chairman of Talamban, said the opening of Geonzon Street can ease traffic in the heavily congested Banilad-Talamban road.
“As long as the new access roads are two-way, it will be really good for the traffic in Bantal. Those coming from Banilad and Talamban who wish to go to the Trans-central Highway or to Balamban or to other provincial area can now easily pass through these access roads,” he said.
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