new seaside township project in Cebu

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Was happy to read about Cebu’s township plans for its South Road Properties on the PDI!

In brief:

  • A mixed-use township with industrial, commercial and residential components is set to rise in Cebu City,  expected to roll out starting 2013
    • About 10 hectares have been built with ready-to-use factory facilities for light industries
    • Other expected locators: factories, high-rise condominiums, business process outsourcing (BPO) offices, schools, government offices, convention facilities and shopping areas
  • The area to be developed is the 300-hectare South Road Properties (SRP), a reclaimed area close to Cebu City’s central business district and accessible from the main island via four access points
  • A six-lane coastal road runs the length of the estate and SRP will be part of the proposed Bus Rapid Transit (BRT) network,  expected to roll out in 2014
  • A 60-hectare water resource within SRP will be developed via joint venture with Cebu-based Pilipinas Water Resources Inc.
  • Last year, SM Prime holdings signed a P2.7-billion deal to buy a 30.4-hectare property inside SRP.
  • Filinvest also bought a 50.6-hectare area and entered into a joint venture agreement with the city government covering part of this asset.

The most exciting part:  the 300-hectare South Road Properties (SRP) is owned and being developed by the Cebu City government.

Why is this good news?

My dad always tells me that the Philippine government is poor because (among many other reasons) it doesn’t own land.   I think it’s fantastic that this huge project in Cebu is owned by the government, and being used in a collaborative progressive way, also by government.

Great perspective on the coastal city lifestyle envisioned in the SRP from this video of Citta di Mare, literally “City by the Sea”, Fil-Invest’s mixed-use development:

More from Inquirer:

  • Planning for SRP started back in 1992 with a P12-billion loan from the Japanese government.
  • According to the city government website, Cebu City is ranked eighth among the top 10 Asian Cities of the Future on a list compiled by the Foreign Direct Investment (FDI) magazine of the Financial Times Group.
    • Cebu City is also fourth on the list of 10 most cost-effective cities, 7th in best quality of life, and is second only to Singapore in development and promotion.

This is fantastic!

I would love to visit Cebu and see this for myself!

Socioeconomic Planning Secretary Cayetano W. Paderanga Jr. commended the Cebu City government for undertaking such development on its own.

Paderanga said that he is encouraging other local government units to push similar projects since they know best what kind of developments would have the best impact on their constituents in terms of economic and social opportunities.

“Not everything has to go through the national government,” Paderanga said.

In a country where land development usually falls on the shoulders of private initiatives, hats off, earnestly, to the Cebu City local government.   I would love to see the same proactive leadership from the people in the cities I call “home” now: Quezon City, Tagaytay, and soon-to-be Laguna.

 

Also read:

PDI article, Township project to rise in Cebu City, August 14, 2011
Philippine Star article, Major dev’t at SRP by midyear, March 2011

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