More Establishments To Rise Soon in SRP

The Cebu City Government, spearheaded by Mayor Edgardo Labella, led the groundbreaking ceremony on the P300 billion development at the South Road Properties (SRP) on January 29. The development is a consortium of SM Prime Holdings Inc. and Ayala Land-Cebu Holdings Inc.

Mayor Labella was also accompanied by Vice Mayor Michael Rama and Cebu City Councilors Dave Tumulak, Dondon Hontiveros, Raymond Garcia, Joel Garganera, Junjun Osmeña and Jerry Guardo to witness the groundbreaking ceremony.

“We were actually outnumbered that time. The opposition was the majority. But there were well-meaning members of the City Council who set aside partisan posturings because they believe in the project and I call them, the unsung heroes, aside of course, from the other members of the City Council,” the mayor said.

The 16,000 seating capacity convention center and a 1-hectare park will soon rise and the project will contribute P22 billion to the Cebu City Government as permit and tax payments.

It was known that the project is 70% commercial development and 30% is intended for residential development. (MLC)