Thousands of jobs will be made available in the next few months, some 5,000 of them permanent positions ranging from janitor to executives, when the project opens
Despite the opposition’s attempts to block an agreement with the Universal Hotels and Resorts Inc, Cebu City Mayor Tomas Osmeña signed a memorandum of agreement (MoA) with the Gokongwei-owned unit for the development of a Kawit island property.
“For the first time in history, the South District of Cebu City, long ignored by developers, will become even richer that even the North. With future developments, Isla De la Victoria will turn the SRP into a shining beacon of the Visayas. And more that, (likely) not in my lifetime but the lifetime of our children, the Cebuanos will own everything you see (there) now,” Osmeña said.
He said the opposition tried blocking the agreement through a temporary restraining order but the court did not issue any.
An estimated P18 billion will be infused into Cebu’s economy with the hiring of people as construction begins.
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Thousands of jobs will be made available in the next few months, some 5,000 of them permanent positions ranging from janitor to executives, when the project opens.
Osmeña projected land values at the city-owned SRP increasing by a factor of five.
SRP lots cost P110,000 a square meter at the moment.
“Even today, we did not sell the land. We own the land and are part owners of the business. Do you know what this means? It means the dream of letting the Cebuano who wants to go to college is able to go to college for free will finally become reality. That the dream of giving every Cebuano the opportunity to pursue a Master’s degree will come true.
God willing, Cebu will one day have the most educated and capable population in the country. And when that day comes, long after I’m gone, we will compete not with Manila but with Singapore,” Osmeña said.
He signed the joint venture agreement at the Crown Plaza Hotel in Ortigas, Pasig City witnessed by North District Rep. Raul del Mar, South District Rep. Rodrigo Abellanosa and a majority of the City Council allied with Bando Osmeña Pundok Kauswagan.
