Aerial view of Cebu City including CCLEX. CDN Digital photo | Brian J. Ochoa
CEBU CITY, Philippines – Acting Cebu City Mayor Raymond Alvin Garcia has laid out an ambitious vision to transform Cebu City into the next “premier city” in Asia.
This was after he vowed to fully support venture partners and investors in South Road Properties (SRP) to achieve this goal.
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“As the [Acting] Mayor of the City of Cebu, I will always look at the bigger picture. I always look at the macroeconomics of how our city runs. The trickle-down effect of more investments in Cebu is enormous,” Garcia said during a recent groundbreaking ceremony in SRP.
He stressed how crucial it would be to bring in investments to drive the city’s economic development.
He also highlighted that by creating a business-friendly atmosphere, the city could potentially grow to be an international hub, similar to major cities in Asia such as Singapore, Tokyo, and Hong Kong.
“It is very important that Cebu attracts more and more investments so that our local economy will progress and develop, and our whole city likewise will develop. We will become the next premier city in the entire Asia,” he said.
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Moreover, the acting mayor noted other major developments in the SRP, which included NuStar Resort and Casino, a joint venture with the Cebu City government, and South Coast City, a project by SM Prime and Ayala Land.
These initiatives, along with the anticipated joint venture between Filinvest and SBC Corp., and the upcoming reclamation of Pond A for the new City Hall, reflect the city’s strategic push to become an “economic powerhouse” in Asia.
On September 6, Garcia welcomed new business locators in SRP, which included several prominent fast-food brands and sports facilities such as a golf driving range and a football academy.
“We are very happy that you are here because you will spur more growth and economic activity in this area,” Garcia said.
He compared this new wave of investments to the initial decision to develop SRP back in 2008 when the area was largely unexplored.
Garcia reassured the locators that the local government would be committed to supporting their growth and that their presence in SRP would not only boost local businesses but would also attract more visitors and further investments.