A PRIVATE Chinese company has expressed interest in developing a 50-hectare (has.) property in the South Road Properties (SRP) and funding the second phase of the Cebu Bus Rapid Transit (BRT) project.
Cebu City Councilor Jerry Guardo, deputy mayor for infrastructure, said he met with representatives of China Railway International Group who are interested in a joint venture with local business groups.
“They are really open to joint ventures and are very interested in launching developments in the city. We are open to their proposal as long as they comply with the requirements,” he said.
Guardo said the investors are interested in developing Pond A Aside and the 19.2 has. of land in the SRP previously owned by Filinvest Land Inc.
Mayor Tomas Osmeña said that while he is open to developments in SRP, he doesn’t want to have Pond A reclaimed.
“Basically, the concept of the investors is to transform the pond into a local version of Venice, Italy. The mayor is also open to the proposal,” Guardo said.