|
Wednesday, May 17, 2006
Mandaue still undecided on firms’ proposals for unused Uniwide lot
Mandaue City has clarified that it has not awarded the 5.9-hectare lot that is occupied by the unfinished Uniwide building to any developer or company.
According to Mandaue City media consultant Jonji Gonzales, the Office of the Mayor is still studying what project will be allowed to operate on the lot, which is located right across the site of the Cebu International Convention Center.
Intent
“Mayor (Thadeo) Ouano is very thankful to businessmen like Robert Go, who have expressed their interest to do business in that area. But the City has not decided yet,” he told Sun.Star Cebu.
Aside from Go’s Star 168 Inc., he said other companies have sent the mayor letters of intent to invest on the said lot.
Star 168, a consortium of businessmen, proposed to construct a commercial establishment worth more than P160 million.
The proposed building will house spaces for restaurants, bars, café, offices for business process outsourcing firms and retail establishments, among others.
According to documents furnished to Sun.Star Cebu, CoHardware Corp., a Cebu-based company has also expressed interest to lease for 25 years the abandoned Uniwide building.
“The proponent will undertake repair and renovation of the building and sublease the property,” the document, signed by company president Carlos Co, stated.
Investment
Meanwhile, Kyung Gi Development Corp., is interested to develop the lot and construct a 250-room business hotel and casino, a business center and entertainment and activity center.
“The total investment for the entire project is $12 million,” stated Kyung Gi president Yang Ben Yong.
Gonzales said Ouano has not set a timeframe for its decision on various proposals. Its decision, though, will conform with the development framework of the “New Mandaue City” concept for the south reclamation.
“The project must be beneficial to Mandaue. It must generate jobs and most of all, it must help increase the value of the area,” he said. (JBN)
For Bisaya stories from Cebu. Click here. (May 17, 2006 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
