THE Cebu City Government will start accepting unsolicited proposals from other interested investors on the plan to have the Kawit Island at the South Road Properties (SRP) leased.
This, after the P18-billion proposal of Universal Hotels and Resorts Inc., the original proponent of the joint venture agreement for the Cebu City Integrated Resort in Kawit Island at the SRP has completed the negotiation for the project.
The joint venture selection committee (JVSC) chaired by City Administrator Nigel Paul Villarete has published the Final Notice for Invitation to Submit Comparative Proposals, which gives other interested investors the chance to submit their comparative proposals until Feb. 14.
Interested private entities may submit their comparative proposals, which include the notarized Expression of Interest (EOI) to the office of the Department of General Services in City Hall.
The EOI must contain an undertaking that the investor has completed a similar project and can secure the government approvals to implement all components of the project.
Francisco Fernandez said that for those who would want to challenge the proposal of the original proponent to see which has better offer for the City.
If there is a challenger, Fernandez, who is the representative of Mayor Tomas Osmeña to JVSC, said it will be reviewed and the original proponent will be given the chance to match it.
“We will review the proposal of the challenger and if their offer is superior, we will allow the original proponent to match it. We will conduct another review because we have to see which has a better offer that is beneficial to the City,” Fernandez said.
Earlier, Osmeña announced that JG Summit Holdings Inc. wants to lease the eight-hectare Kawit Island and invest P18 billion on a development in the area.
The firm wants to build a leisure hub with a 1,000-bed hotel in four towers, casino, convention center and restaurants, among others.
Universal Hotels and Resorts Inc., an affiliate of JG Summit, has secured an endorsement from the City Council to the Philippine Amusement and Gaming Corp. to develop and operate an integrated resort and casino in Kawit Island. (RVC)