Mayor Rama says 12 small SRP lots up for sale

April 5, 2012 9:11 pm 

CEBU CITY, April 4 -– Twelve small parcels of land at the 300-hectare South Road Properties (SRP) are now available to buyers.

Cebu City Mayor Michael Rama made the announcement after inspecting infrastructure at the SRP Tuesday with Roberto Varquez, the property’s manager.

Varquez said base price of the 12 SRO lots will be from P30,000 to P35,000.

But he said there are no takers yet.

Rama said he will also check if Cebu Investment Promotions Center (CIPC), the marketing arm of the SRP, got proposals.

Rama is urging investors to act now, saying the market price of the lots is expected to double once the place is developed further.

The 12 lots up for sale are considered “small cuts,” with land areas between 2,300 and 3,000 square meters, located beside the development of SM Prime Holdings Inc.

The base price proposed by Rama and Varquez will be confirmed through a bidding.

Varquez said, though, that the bidding can only proceed with the blessing of the Cebu City Council.

”The right thing to do is sell the SRP. We’ve been promoting the SRP for a long time because we’ve been wanting to sell it. I have always maintained that position,” said Rama.

Rep. Tomas Osmena (Cebu City, south district) did not want to sell the SRP lots.

Rama said he talked with Gabby Lopez, owner of ABS-CBN and Rockwell in Manila, who has expressed interest in investing in Cebu.

Rama said Lopez was “amazed” at developments in the city and was thinking of expanding his business in Cebu.

Rama, however, did not say if Lopez had specified the SRP.

He also raised the need to fund the development of a white sand beach near the area.

Rama said he is hoping to get a contract with the Japan International Cooperation Agency to prevent the SRP debt from ballooning due to foreign exchange changes. (PNA) DCT/EB/re

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