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Thursday, September 22, 2005
Tokyo firm wants to build hotel in SRP
A tokyo-based hotel wants to put up right away a mid-rise hotel in the South Reclamation Project (SRP) near Kawit Point.
Mayor Tomas Osmeña said that if Alpha Home Limited of Tokyo City has to start right away, there are some things they have to study.
The mayor said the firm will build a seven-story mid-rise building, not 15 stories.
He said that building a hotel is allowed within the SRP, which has been declared a special economic zone, such as Clark and Subic.
“There is even a tourism zone inside the Philippine Economic Zone Authority. I gave (them) an incentive inside the walls of Kawit because we will immediately need a hotel there,” the mayor told a news conference yesterday.
The City Government will not be selling any part of Kawit Point to investors.
Instead it will consider offering Alpha Home a percentage-sharing scheme of its gross monthly income.
Taking risks
Osmeña said the City can collect 20 percent of the gross receipts inclusive already of business taxes “in lieu of rentals” from the investor.
“It’s like we’re taking the risk together with them. So, the percentage would depend on how much is the income of the hotel. We’ll be talking about these things with City Council. Our discussion is along that line,” he added.
The mayor also announced that officials of Filinvest, a subdivision developer, will be meeting him on Saturday to discuss its earlier proposal of developing Kawit, which is part of the Pond F of SRP.
Bigfoot Global Solutions is also interested in putting up a yacht club with an entertainment complex and a restaurant at the site.
Proposals
The City has received proposals from Landco, a developer, who wants to invest about 20 to 40 hectares of the Kawit Point portion of the SRP, but the City is still studying the details.
The mayor said he has not committed anything for Pond F because of Filinvest’s interest.
The City is also expecting a visit from a high-ranking official of the Makati Stock Exchange to look into the possibility of transferring its operations in Cebu.
Osmeña said the City will be offering them a hectare or two for free should they decide to transfer their operations to Cebu City. (GAC)
(September 22, 2005 issue)
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