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Ayala Group Wants 40 Hectares In Srp

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#1 Cary

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Posted 22 April 2010 - 12:59 AM

CEBU, Philippines - While opposition leaders in Cebu City are busy criticizing Mayor Tomas Osmeña for alleged mismanagement of the city and blaming the South Road Properties as the cause of the city’s financial ruin, the mayor announced that the Ayala Group of Companies even offered to buy 40 hectares of land at the SRP.

The mayor made the announcement during his political sortie in Barangay Pasil last Monday night in reaction to the criticism of businessman Jonathan “Atan” Guardo, his main opponent for the city’s south congressional district.

Guardo the other day launched his so-called “Lapok campaign” aimed at discouraging voters from supporting Osmeña and the other candidates of the Bando Osmeña-Pundok Kauswagan because he claimed that they failed to attend to the needs of the people during their term.

Guardo’s 30-second video, which will be shown on television days from now, shows the 295-hectare of reclaimed lands as mere lapok or mud and hampering the delivery of the supposed basic services for the people because the city is paying P800 million every year for its debt to Japan.

“Hangtud kanus-a pa ang syudad mag-antus sa lapok?” Guardo asked, adding that the city officials should create a team of experts to look for better ways on how to develop the SRP.

Osmeña, who used to be the vice president of a real estate company in the United States in 80’s, just laughed off Guardo’s suggestions.

The mayor said there is even an offer from the Ayala Group of Companies to buy 40 hectares of lands at the SRP at the same price SM Prime Holdings Inc. and Filinvest Land Inc. paid the city, but Osmeña said he has decided not to accept the offer yet.

The present price for a square meter at the SRP ranges from P8,000 to P15,000 depending on its location, but Osmeña said he wants the city to stop selling lots until after FLI and SM Prime Holdings will start constructing their projects at their purchased lots.

FLI will construct high-rise hotels and condominiums in its 50-hectare lot subject to a joint venture agreement with the city, while SM Prime Holdings also pledged to build a giant mall and other infrastructure projects in its 34 hectares that was purchased at P2.7 billion. – Rene U. Borromeo/BRP


#2 JohnFromTexas


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Posted 22 April 2010 - 1:11 AM

It's all about the $$$

PS -- anyone noticed all the road construction going on lately? my wife and i had a nice discussion today in which she agreed with me that it is all due to people in office now hoping people will vote for them because of it... they only fix problems at election time... there is tons of road construction going on in lapu lapu right now... mayor radaza must really want this one bad... and why not, half his family seems to be running for election. my wife doesn't have the years of experience and cynicism i do and even she knows it's a political play.. i'm going to be excited to see what happens on election day and if the people in general fall for it... sadly i suspect they will

i wonder how much osmena gets for every sale of land on the srp...

#3 musicman666

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Posted 22 April 2010 - 1:28 AM

osmena is such an optimist... when the loan on the srp is paid off in full is when you can start to use the cash from the sale of the land for luxuries such as firework displays ect. Until then you should plough back all the money to pay off the loan as quickly as possible thus reducing future interest payments for the people that will have to deal with this when he is long gone. The outstanding is still huge!!!!

The srp was conceived before tommy was even in office... so this dodgy idea to hold a huge party and firework display on the back of goverment money to launch the srp just before the election right on the day that the bok is throwing its low budget effort next door is just a thinly veiled attempt to chummy up the dumber voters.. unfortunately there are probably quite a few of those around so he will probably get away with it and it will probably work.

well done tommy.

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