AN INVESTOR from Luzon has backed out from its plan to develop Warwick Barracks and Freedom Park in the Carbon Public Market Complex.
This was disclosed by Aniceto Canturias, Cebu City Local Economic Enterprise and Investment Management Board (CLEIMB) head, when he appeared before the City Council last Wednesday for a public hearing to shed light on the investor’s project.
Canturias said Antipolo City-based Duraville Hongkong was supposed to build a four-story building in Warwick that would have been used as a “Class D” mall like the ones in Baclaran or in Divisoria in Manila.
Duraville was planning to expand the mall to the area where Freedom Park stands.
However, Canturias told members of the legislative body that Duraville has “indefinitely deferred” its plans to invest in the city.
He said the investor was supposed to present its plan to CLEIMB last April 4 only for the latter to cancel.
Asked by Councilor Margarita Osmeña why Duraville backed out, Canturias said the matter was internal.
Councilor Sisinio Andales asked if Duraville’s move was formally put into writing, Canturias said he asked for a letter but his request fell on deaf ears.
Screening process
Andales believes a formal letter should have been sent to the City, since Duraville also sent a formal letter expressing its interest to invest.
“It will put things into order,” he said.
Canturias said it was retired army personnel James Bernal, who provides security for Duraville, who informed him about the investor’s change of heart.
This prompted councilors to ask if CLEIMB screened potential investors.
Canturias said that was supposed to have been the purpose of last April’s meeting.
Before any developments are introduced at Warwick, Councilor Alvin Dizon asked CLEIMB to consult with vendors who were displaced by last January’s fire since they’re interested in returning to the area.
The City has not allowed the vendors to return because Mayor Michael Rama wants to develop the property.