Hong Kong group wants to develop Cebu City’s Barracks, Freedom Park

November 18, 2010 12:52 pm 

CEBU CITY, Nov. 18 – An investor from Hong Kong (HK) wants to develop sitio Warwick Barracks in Barangay Ermita, Cebu City and Freedom Park into a commercial and shopping area.

Winner Power Holdings Limited HK/Megaciti Palace Corp. PH and their Cebu-based counterpart are proposing to the Cebu City government to develop the two-hectare area into a shopping center for the low and middle income population.

The establishment will have a parking space of at least 360 slots to help ease the traffic problem in the said site.

”Our vision is to create a Divisoria-like commercial area in the south and revive the shopping activities in the downtown area of the city like it has never been before,” said Winner Power Holdings Limited HK, in their letter to Mayor Michael Rama.

The company said the proposed shopping center and car park will be designed such that it will blend with the existing cultural and historical landscape in the area.

They also said local and Hong Kong investors “of diversified experiences and disciplines” will manage the development of the said project.

”The creation of new jobs and additional revenue for the City of Cebu are the expected contributions from the proposed project,” they said.

To improve the peace and order in the area, the investors said there is a need to have a visible police station.

Thus, they are proposing also to the City Government to renovate the Ermita Police Station at their own expense.

For the development, the investor proposes to the city an exclusive annual lease of P40 per square meter per month for 25 years.

The lease will start upon the completion of the evacuation of all occupants in the area and the signing of the contract.

Currently, the letter of intent of the Hong Kong investors is being studied by Rama.

Councilor Jose Daluz, who has also received a copy of the letter, said the mayor plans to form a group of study the proposal. (PNA)

LDV/EB/bh

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