City, firm ink deal to develop Kawit Island
DESPITE the case filed against the deal, Cebu City Mayor Tomas Osmeña and officers of the United Hotels Resorts Inc. (UHRI) yesterday signed the joint venture agreement (JVA) to develop Kawit Island in the South Road Properties (SRP).
UHRI President Frederick Go signed the JVA in the presence of John Gokongwei Jr., founder of JG Summit Holdings Inc.
The signing signals the start of the development of Cebu Integrated Resort in the SRP.
Osmeña was accompanied by Rep. Raul del Mar (north district), Rep. Rodrigo Abellanosa (south district) and their allies in the City Council.
The signing pushed through despite the opposition’s view that the approval of the resolution authorizing Osmeña to sign the deal was not proper.
Atty. Amando Virgil Ligutan, counsel of the Bando Osmeña Pundok Kauswagan, welcomed the signing of the agreement.
“The signing of the JVA is a momentous (event) for everyone, and auspicious for the next generations of Cebuanos,” he said.
Asked about questions raised by the opposition on the resolution authorizing Osmeña to sign the deal, Ligutan described these as confusing.
“The opposition is now saying that the JVA signing cannot proceed because the approval of the minutes of the session was deferred. That is a head-scratcher,” he said.
Earlier, Busay Barangay Councilor Amilo Lopez filed a petition for injunction with prayer for temporary restraining order and writ of preliminary injunction before the court, saying that the JVA is grossly disadvantageous to the City Government.
Lopez said that the City Council had not authorized Osmeña to sign the deal because the proceeding when it was tackled by members of the majority bloc was irregular.
Lopez also said that UHRI is disqualified from entering into the JVA based on City Ordinance 2154, which requires that a prospective JVA partner must have a completed project of similar land use and with a cost equal to 75 percent of the JVA project. UHRI was incorporated only last August 2017.
The signing pushed through yesterday since the court did not issue a temporary restraining order to stop it. RVC
Source: Local News
Condo, hotel project underway in Davao
IN 2017, Santos Land Development Corporation (SLDC) launched two new vertical projects – the IvoryRead More
Cacao leaves used in furnishings
WHO says cacao is only for satisfying sweet buds and craving appetites? Artist and entrepreneurRead More