Tree planting, cleanups for Environment Month

6/2/2012

TREE planting and creek clean- ups will be held today in Cebu as part of the celebration of Environment Month in June, said the Department of Environment and Natural Resources (DENR) in Central Visayas.

A parade on June 4 will be followed by a sportsfest and presentation of 12 candidates of the “Mutya ng Kalikasan” pageant. The coronation night is on June 27.

June 5 is World Environment Day.

“Green Economy: Does it include you?” The DENR posed this question to every Filipino as the theme for the celebration of Philippine Environment Month.

Several activities are prepared by the agency in leading the month-long environmental campaign.

A DENR Open House and Market Week will run from June 11 to 15.

On June 8, soil potting will be simultaneously done in various nurseries. On June 20, a mangrove planting and coastal cleanup will be held.

A mine tour and forum on responsible mining is set on June 22 at the Carmen Copper Corp. in Toledo City. Tree planting in the Butuanon watershed is set for June 23.

Bohol and Negros Oriental will host a benchmarking tour June 13-15 along with an exhibit or exposition on June 18-22.

As defined by the United Nations (UN) Environment Program, green economy “results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities.”

“Everyone must take part in ensuring the protection and conservation of our environment and natural resources mindful of the present threats of climate change,” the DENR 7 said in a press statement. /Jessa J. Agua, Correspondent

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Tomas O ‘poorest’ Cebu solon P5.1M

6/1/2012

CEBU City’s two congressmen yesterday gave copies of their 2012 Statement of Assets, Liabilities and Net Worth (SALN) upon request of Cebu Daily News. Cebu City Rep. Tomas Osmeña said he thinks all SALNS should be posted in the Internet for the world to see. With a declared net worth of P5.1 million and no real property , Osmeña said he isn’t ashamed to admit he’s the "poorest" of Cebu’s congressmen. First-time legislator Rep. Rachel “Cutie” del Mar recorded a net worth of P30,011,200 in her SALN, most of it in three landholdings in Cebu City and a Makati condominium. “As a public official, I have to adhere to the principle that public office is a public trust, she said. A call for full transparency was underscored by Tuesday’s ouster of Chief Justice Renato Corona over his failure to declare his full cash assets in the SALN. CDN asked nine Cebu members of the House of Representatives to disclose their current SALNs which are filed with the Secretary General ‘s office in Quezon City. Rep. Red Durano of the 5th district and Rep. Luigi Quisumbing were the first to e-mail or fax copies to the CDN newsroom. Under oath, they certified that their personal wealth was P15.8 million for Quisumbing and P13.6 million for Durano. Two other solons, 3rd district Rep. Pablo John Garcia and 4th district Rep. Benhur Salimbangon asked for more time, saying there was a period of revision to “correct” entries reviewed by the House. Osmeña yesterday said "the SALN should be made available to the public. They (the House leadership) should put it on the Internet,” he said. This would save him the bother of photocopying it whenever someone requests for it, he said. House Speaker Feliciano Belmonte on Tuesday said he would discuss with congressmen how to go about revealing the documents so that “everyone does it”. Osmeña and del Mar both declared the same income of P1 million per annum. In the document dated April 20, 2012, Osmeña’s assets have no real properties listed. (With the death last Nov. 6, 2011 of his mother Lourdes dela Rama , however, he is expected to inherit a share of sizeable landholdings in Negros Occidental and Cebu.) As his personal and other properties, the former Cebu City mayor said most of his wealth was in cash of P3.9 million and “car and accessories” at P1.89 million, along with jewelry worth P175,000, stock investments worth P660,000 and appliances and furniture worth P320,000. His residence with wife Councilor Margarita Osmena is in 168 Don Gervasio Quijada Streeet in Guadalupe, Cebu City. The congressman said “six units” of firearms were donated to him in 2011. Total assets of P6.9 million were offset by two loans, a personal loan of P1.5 million from his sister Maria Victtorio Osmeña Stuart and a Metrobank car loan for P380,000. For business interests, Osmena said he and his wife were stockholders in two firms in Cebu City - Happy Stars Promotion & Consultant INc. and Southern Gems Fashion Inc. in June 2006. His relatives in government are his wife Margot and elder brother Sen. Serge Osmena III. Meanwhile, Cutie del Mar, e-mailed a copy of her 2012 SALN to CDN. It showed net assets of a little over P30 million with no liabilties. Her income of P1,000,121 a year was the same figure as Osmeña’s. The single legislator resides in Canyon Road, Beverly Hills in Cebu City and declared four real properties with a total worth of P21.8 million, which was the bulk of her personal wealth. There were three lots in Cebu City (Busay, Lahug and Ayala Heights), and a P16 million condominium in Makati . The properties were bought in 1991, 1995, 2001 and the latest, the condominium in 2002. She owns P2 million in shares of stock acquired in 1989 and P6.2 million in cash and jewelry in 1987. Although everyone knows her as the daughter of former congressman Raul del Mar, Cutie has no family members or relatives in government, according to the SALN. /Edison A Delos Angeles and Ador Vincent Mayol www.cdn.ph

Tom O Capitol deal Filinvest’s ‘second choice’

May 30, 2012

There’s more than meets the eye in the Capitol’s new joint venture with Filinvest Land Inc., said Cebu City Rep. Tomas Osmeña.

Reacting to Gov. Gwen Garcia’s portrayal of the 1.2 hectare land deal as more advantageous than Filinvest’s earlier deal with Cebu City for 50.6 hectares in the South Road Properties (SRP), the congressman said leasing the province-owned lot in Salinas Drive for a BPO Complex was only Filinvest’s “second choice” after SRP.

“Compare Cebu province with Cebu City? Gov. Gwen says the province will have an increase in P5 billion in assets with the lease with FLI.”

“What she did not say is that FLI has the option to lease it for up to 50 years. Do you think the building will be as commercially attractive after 50 years? That would make it as old as Asilo,” he said in a text message to Cebu Daily News.

“Filinvest is a good deal though because the city needs the BPO space now. But 50 years from now, the province will have a hard time renting out the old building.”

Osmeña said Filinvest’s interest in the province-owned lot in Lahug where the Cebu city jail was once located was just a second choice after the Cebu City government turned down Filinvest's request to acquire 10 more hectares in SRP.

Osmeña and city officials had chosen instead to wait for land values to go up in SRP with ongoing major commercial developments like SM City and Filinvest.

"Note that Filinvest wanted to get 10 more hectares from the SRP which we politely refused and the province lot was a consuelo - a second choice," said Osmena.

The Province of Cebu and Filinvest broke ground last Saturday for a P6.5 billion BPO Complex in Salinas Drive. The private developer will build the structures under a Build-Transfer-Operate scheme and operate the BPO complex for 25 years with renewal for 25 more years.

Last Monday, Governor Garcia said leasing the land instead of selling it outright to Filinvest was a better deal and is favorable to the provincial government.

The Capitol will receive P600,000 monthly rental and another P1.5 million a year from the joint venture's gross revenues.

But Osmeña said that looking years ahead, “Who will want to use 50-year-old elevators, air con and plumbing? By that time, the modern buildings will rent out at much higher rates and the province has only a four percent increase a year.”

Now that Filinvest is the Capitol’s new partner, he said the governor’s brother Rep. Pablo John Garcia should “apologize” for attacking the Filinvest-Cebu City joint venture in SRP as an anomalous “sweetheart deal” in a 2009 privilege speech in the House of Representatives. Rep. PJ Garcia earlier sought a congressional investigation into the deal. /Doris C. Bongcac, Chief Of Reporters

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Monterrazas monitored for floods

6/1/2012

Water impounding ponds located below the Monterrazas de Cebu project in barangay Guadalupe did not overflow despite the rains that started last week.

But still, this may not yet be the basis for the lifting of City Hall's cease-and-desist order (CDO) to the real estate project, said Alvin Santillana, operations officer of the Cebu City Disaster Risk Reduction Management Council.

A CDO was issued on the real estate development project after massive flooding last year in barangay Guadalupe and neighboring barangays was attributed to them.

To mitigate flooding impact of their project, City Hall required them to regularly desilt their water impounding ponds, install soil erosion and landslide mitigation measures and improve the project's drainage system.

However, Santillana said their observations on the impounding ponds alone may not be enough basis to already lift the CDO issued last year.

"The lifting of the CDO will depend on our group assessment," said Santillana.

He added that government offices and agencies whom Mayor Michael Rama tasked to monitor the progress of their compliance with city and environmental requirements are scheduled to convene next week to discuss Monterrazas de Cebu's request for the lifting of the CDO.

Cebu City’s Project Implementation and Monitoring Office (Primo) chairman Rolando Diola and CPDO chief engineer Alipio Bacalso wrote Rama early this month and recommended the lifting of the CDO after Genvi Development Corp., the developer of Monterrazas de Cebu, has “substantially complied” with the conditions set under the CDO.

Even barangay Guadalupe has already issued a "favorable recommendation" for the lifting of the CDO after Genvi put in place flood, landslide and soil erosion prevention measures, which include the planting of vetiber grasses and placement of cocomats along the slopes to prevent soil erosion.

Genvi has also installed diversion ditches and has been desilting their ponds at least twice a month. They are also continuing to assisted in the rehabilitation of areas affected by the July 2011 flooding.

Santillana said they last vi sited the Monterrazas project area on Monday and saw that their siltation pond especially the one located near the Bethany school did not overflow despite the rain.

He said the flooding of the nearby Francisca Village and Horse Shoe Drive was caused by the overflow of the creek in the area.

"Ang Monterrazaas dili na siya contributory sa flooding but we will have to further assess the situation there before we decide on the lifting of their CDO," said Santillana.

Santillana said that a meeting is scheduled next week with DENR, city egineering and disaster officials, Primo, city administrator Poblete and mayor Rama to discuss the request for the lifting of the CDO against.

Santillana added they are closely monitoring areas in the city that are high risk to flooding and landslides especially that the rainy season has started. /Doris C. Bongcac, Chief of Reporters

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Firm offers plan for Inayawan landfill

June 23, 2012

Cebu City's Solid Waste Management Board (SWMB) recommended a private company to help the city government implement plans to improve the Inayawan Sanitary landfill in the next 25 years.

Greenergy Solutions Inc. (GSI) proposed a 25-year development project, which would include the remediation or removal of pollutants, and waste-to-energy components, said Jade Ponce, board chairman in a statement.

Ponce said the project wouldn't cost the city a centavo.

It would implemented under the city government's Private Public Partnership (PPP) program.

He said Cebu City Mayor Michael Rama would only have to enter into an Integrated Waste Management Agreement (IWMA) with GSI chairperson and chief executive officer Ruth P. Briones, who is also a convenor of the Zero Waste Philippines.

The Solid Waste Management Board passed a June 20 resolution endorsing the agreement to Rama.

The GSI proposal is a landfill gas and waste-to-energy project.

It will involve the construction of a waste-to-energy facility at the 17- hectare Inayawan landfill for the treatment of industrial, commercial and household wastes and the recovery of energy.

Ponce said the facility would process up to 1,000 tons per day of residual waste and daily fresh waste and produce about 24 megawatts of electricity.

The firm also plans to convert the landfill’s 1.8 million tons of waste as feedstock to thermal gasifier, which generates electricity to be sold as renewable energy. /Chief of Reporters Doris C. Bongcac

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DENR says water scarcity, pollution a threat for nation

May 30 2012

MANILA, Philippines — There is a real fear that the Philippines, a country surrounded entirely by water, would not have enough of it in the future.

The Department of Environment and Natural Resources (DENR) said a scarcity of water could pose a problem for the Philippines, which would be grappling with polluted water sources and stresses like population growth and development.

The DENR will host later this week the country's first international river summit in Iloilo City. Some 900 scientific experts and river managers from around the Philippines and other countries are expected to discuss the effective management of rivers and river basins.

Environment Secretary Ramon Paje said the country had 421 principal river basins and, as an archipelago, had control over 479 billion cubic meters of ground and surface water.

Paje said that theoretically, this should be enough to sustain the country's economic development and ecological needs at any given time, yet stresses posed by population growth resulting in increased economic activity and pollution could mean "the danger of a scarcity of water supply."

Stressors such as water pollution due to improper waste disposal and sedimentation from indiscriminate land development, the over-extraction of water resources, and flooding in low-lying areas had led to poor water quality in many countries. Various government agencies are also in conflict when it comes to water management, he said.

"In many places around the world, rivers act as convenient dumping grounds for waste. Many of these rivers, once teeming with aquatic life, are now either biologically dead or dying," he said.

"We all need to accept our responsibilities as stewards of rivers not only as waterways or water sources but also as habitats and ecosystems, and be willing to undertake the laborious and continuing task of reviving and maintaining them, he said.

Vicente Tuddao Jr., executive director of the DENR's River Basin Control Office, had said that the country had an abundant water supply, thanks to groundwater sources, various inland water bodies and regular rains. But this was not being used in the most efficient manner. Many major tributaries and basins were either polluted or deforested, he said.

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How much more will I pay?

6/19/2012

IF you have several appliances at home, including an airconditioner, you may be consuming 200 kilowatt hours a month. Based on a sample computation of the impact of the June rate hike of the Visayan Electric Company (Veco) for a consumer of 200 kwh, the private utility said you can expect to pay P204 more this month. (See table above.) The Veco chart showed that consumption of 200 kwh would cost an average of P10.03 per kwh in May, before the rate hike. That would amount to P2,006 on your electric bill. After the generation rate increase in June, the average cost of power would be P11.05 per kwh. In your bill, that would be refleted as P2,210. The difference is P204 to the household customer. www.cdn.ph

Carmen town gets P43.6M as bulk water project starts

	5/30/2012

WORK on the P700 million Cebu Bulk Water Project started yesterday in barangay Cantumog of Carmen town, northern Cebu.

The joint venture between the Cebu provincial government and the Manila Water Consortium is expected to produce 35,000 cubic meters of water per day and supply water in northern and central Cebu.

Carmen town through Mayor Martin Gerard Villamor received P43.65 million from the developers.

Of this amount, P35 million is an advance royalty fee for tapping Carmen's Luyang River.

Another P6 million is for Luyang watershed protection and P2.65 million for park development and a birthing center in the town.

The joint venture between the Manila Water Consortium and Capitol which is officially called Cebu Manila Water Development, Inc. Capitol will have 41 percent shares in the venture while Manila Water will have 59 percent shares.

Cebu Gov. Gwendolyn Garcia, Manila Water Consortium chairman Gerardo Ablaza Jr. , Villamor and Provincial Board Member Jude Durano Sybico buried a time capsule to to mark the start of the project after the signing of the Memorandum of Agreement.

“There will be a cooperative foundation between Carmen and certain nominees from the provincial government to Cebu and some representatives from the Consortium that will make sure that the watershed will not be destroyed. We must make sure that water from Carmen is of good quality,” Ablaza said.

Ablaza added they will work with the local government to create the Carmen Development Fund to be funded by a percentage of water tariffs.

As host town, Carmen, a 3rd-class municipality with a population of about 45,000, will be given free 200 cubic meters of water per day. /Peter L. Romanillos, Correspondent

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Cebu City Council sees longer grace period to negotiate

5/31/2012

Extend the six months grace period authorized by Cebu Gov. Gwen Garcia for the renegotiation and purchase of 93-1 lots by its occupants. This is the call of Cebu City councilors and government agencies working to address the concerns of 93-1 occupants. As of yesterday, the Social Housing Finance Corp. hadn't received any application from the 5,000 93-1 lot occupants who would want to avail of the Community Mortgage Program (CMP), said engineer Randolph Librando, head of the Social Housing Finance Corp. The provincial government have properties located in barangays Camputhaw, Capitol Site, Kalunasan, Busay, Luz, Lahug, Mabolo, Apas, Lorega, Kasambagan and Tejero which are now occupied by city residents. Governor Garcia wanted to renegotiate with lot occupants most of whom have unfinished contracts with the provincial government, for the acquisition of their assigned properties. The Cebu City Council met with lot occupants and national government line agencies like HUDCC, NHA, Pag-ibig and the social housing finance corp. during a public hearing yesterday to discuss the status of the ongoing negotiations. Councilor Alvin Dizon, head of the council's housing, committee said that he and other council members wanted to be "actively involved" in the 93-1 discussions. "While the Capitol may have the aces being the lot owner, the council also has the right to be informed (of the status of ongoing discussions) because the issue involves 5,000 families," he said. Cebu City Mayor Michael Rama said that negotiations should be left with the executive department since the governor "does not want them (city council members)." Rama said the Capitol own the lots and the city through the executive department could only make representations on behalf of the occupants and maybe later come up with a buffer funds which they could use for their socialized housing program. According to National Housing Authority in Central Visayas (NHA-7) data, there are 3, 300 structures and 5, 000 household occupants in 93-1 lots. However, engineer Gino Figuracion, NHA-7 director, said that results of the Sept. to Nov. 2011 survey showed that the structures increased to 4,000 while the number of occupants increased to 7,384. Figuracion said the results of the survey and other data of lot occupants including their monthly net income were already submitted to Garcia for consideration in the new lot pricing. He said pricing would be based on the properties zonal valuation, its fair market value and appraised value by the provincial government. Lot acquisition may be done through the CMP, Pag-Ibig housing loan or direct purchase, said Figuracion, who added that those who would opt for CMP may avail of a P90, 000 loan maximum with the social housing finance corp. Pag-ibig on the other hand is offering a maximum loanable amount of P400,000 for each beneficiary. Figuracion said that cuts may be introduced on lots now occupied by families who wouldn't qualify to own their assigned lots because of income shortage. "The properties will have to be subdivided based on their loanable amount and capability to pay off their loans. We may have to lower the area of some of the properties," he said. If this happens, Figuracion said, it will now be up to the city government to do the reblocking. Librando said that he already furnished DWUP a checklist of requirements for the CMP program but as of yesterday, no one has availed of funding help from their office. The council will meet DWUP head Collin Rosell to an executive session to separately discuss 93-1 concerns with him. Rama said that he already authorized Rosell to appear before the council. Emily Malto, head of the 93-1 Movement, said during the public hearing that lot beneficiaries wish to be involved in ongoing negotiations to fix the new prices of the properties they occupy. "We do not know how much is the pricing... We hope that this (negotiations) will not be tainted with political color," she said. She also said that she was concerned if the negotiations would be completed within the six months grace period given by Governor Garcia since many of the 93-1 lots hadn’t been subdivided yet. /Doris C. Bongcac, Chief of Reporters www.cdn.ph

Cuenco wants ban on early campaigning

June 23,2012

FORMER Cebu City south district representative Antonio Cuenco wants to ban premature election campaigning.

The veteran politician who has made known his intention to run for the congressional seat in the south district of Cebu City said allowing politicians to promote their candidacies before the official campaign period is unfair to candidates who do not have money.

Another law he said he would be pushing would be the law that would grant financial subsidies to political parties.

Cuenco said that passage of the bill will allow political parties to get government subsidy equivalent to how much they are allowed to spend in an election.

Meanwhile, Cuenco said that he wanted a bill passed to rename the Mambaling flyover after the late press secretary Cerge Remonde.

The P110 million flyover was completed last year. Another P100 million was released this year for its improvement, the widening of nearby roads and the developed of an access road to the South Road Properties (SRP). /Chief of Correspondents Doris C. Bongcac

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Dream big, developers told

By Katlene O. Cacho

Tuesday, May 15, 2012

TOP Filipino entrepreneurs advised Cebuano startups to step up and dream big if they want to become successful developers.

Winston Damarillo, founder of Developers Connect Philippines (DevCon), said that although Cebu has a big potential in becoming a hub for software development, it lacks ambition.

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“In Cebu, we’ve got a good recipe here. We have good infrastructure development, supportive government and academe and enterprising people. However, there is one thing missing. We need to add a few more ambitions, people who desire for something bigger, people who dream bigger,” said Damarillo.

Damarillo was one of the speakers during the Entrepreneurship Camp last Monday in Casino Español in Cebu City.

Damarillo is the chief executive officer and co-founder of Morphlabs, a leading provider of cloud computing solutions that started in Cebu.

Tallwood Venture Capital managing director Diosdado Banatao said the country should build on its rich pool of manpower to fuel economic development. He said Filipinos have brilliant ideas that should be tapped.

Ecosystem

“We need to build an ecosystem for these entrepreneurs all over the country. We are not quite there yet in terms of IT and software development, unlike other emerging countries. But, we need to get there, talk more about it and encourage more to do it,” Banatao said.

Banatao is the chairman of the Philippine Development Foundation (PhilDev), a foundation that works for “science and technology-based entrepreneurship and innovation for social and economic development in the Philippines.”

Banatao advised budding entrepreneurs to realize their dreams by taking up science and engineering courses and pursuing post-graduate studies to expand their horizon.
“There is a very big market out there and competition is tough,” he said.

Banatao said PhilDev is giving a SuperFund Scholarship Grant to 151 students of P1 million each to complete college degrees in the fields of science and engineering.

Banatao is a venture capitalist who is one of the most successful Filipino technology entrepreneurs. He is currently supporting the work of 22 small but promising startups.

He is a successful engineer and entrepreneur. He is credited with developing several key semiconductor technologies and is regarded as a Silicon Valley visionary.

According to Damarillo, at least 30 percent of each computer in the world today has a Banatao invention in it.

Compelling need

During his presentation, Banatao said that one of the five major success factors for startups is a product idea that aims to address a market need.

“You need to identify a compelling need in the market,” he said.

Banatao also noted that what venture capitalists look into are unique solutions or difficult-to-do technologies and unique design techniques.

“Hard enough in possibilities that no one has ever done before, even if we check with the Intellectual Property Rights or unique design techniques that improve all existing techniques for applications and out-design everyone,” he said.

“Innovation is a mixture of a lot of technologies to produce a product. It’s the blending that makes it magical,” he said.

Another success factor is a sound execution plan. Banatao said the quality of product planning determines product success. He said it is important to craft a roadmap in preparation for the technology or product requirement in the future.

Banatao also advised entrepreneurs to establish a strong technical and management team and build good rapport with them.

A solid financial support is another key factor for start-up success. Banatao advised entrepreneurs to also consider working with investors who are willing to take risks and have the ability to lead.

The Entrepreneurship Camp, the first in the Philippines, offered mentoring opportunities from top technopreneurs in the industry.

Damarillo said among the tech developments they hope startups would develop are those that offer solutions to immediate problems such as rice importation or solutions that address problems in employment, according to Alvin Gendrano, Microsoft director, developer and platform evangelist.

Startups can also come up with applications for standard franchising business solutions for emerging markets.

Admitting that transforming the Philippines into a product-driven country would take some time, Earl Martin Valencia, head of Strategic Business Development of Smart Communications Inc., said all stakeholders need to be involved.

He urged large companies to take a look at the potential of the country to become a hub for software development. “Startups would like to see more successes in technology so they will be motivated,” he said.

Winners of the Startup Weekend, meanwhile, asked for continued mentorship from venture capitalists so they could develop innovative products worthy of attention in the global market.

Published in the Sun.Star Cebu newspaper on May 16, 2012.

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Firm sets aside P1.5B for projects

By Katlene O. Cacho

Wednesday, April 25, 2012

A NEW player in the real estate industry is setting aside P1.5 billion as capital expenditures (capex) for its four residential projects for the mid-range market starting this year.

According to Michelle Yu, chief executive officer of Landtraders World Properties Corp., the four projects, three condominiums and a townhouse, will have a total of 2,000 units that will be completed in two years.

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Yu said the company will source its funds from banks and in-house financing.

Yu, whose family business is importation of used/surplus trucks, engines, under chassis parts, gen sets and forklifts since 1988, ventured into real estate because of the industry’s strong growth performance.

“We wanted to explore other businesses and one of industries we saw that is growing so fast now is the real estate industry,” Yu said.

She said almost all of their clients in their surplus business, New Partraders Inc., have also ventured into real estate.

According to the Bangko Sentral ng Pilipinas, the steady growth of overseas remittances and the continued growth of the business process outsourcing industries have fueled the growth of the property market in the Philippines.

Landtraders’ flagship project is San Marino Residences, a 420-unit, 20-storey residential condominium on J.de Veyra Avenue at the North Reclamation Area.

Yu said the company invested P520 million for the construction of the project, which will initially cater to the mid-range market with unit prices of P1.4 million for units with 21-22 square meters of space.

Yu said one selling proposition of the project is its location. “San Marino is right across everything like shopping centers, the airport, schools and the port,” she said.

Yu said their company is the first to offer a cheaper rate for condo units in the Cebu market.

“The aim here is also to give a chance to low-income earners to own condominium units,” she said.

San Marino Residences will have a modern Mediterranean-style building. Yu said that despite the low price they are offering, the company will invest on the quality of the project.

“The project management team is headed by my father-in-law, who has a strong background in construction, to ensure the foundation of the project considering its location,” Yu said.

She said they sold 40 units on the first day of their pre-selling period. She said pending inquiries stood at 60 to 80 percent.

San Marino Residences targets local buyers, especially from the overseas Filipino market, young professionals and those from neighboring islands like Bohol and Leyte who wish to work, live or study in Cebu.

Aside from San Marino Residences, Landtraders is currently planning the construction of three more projects, such as the 89 townhouse units to be put up in Mactan and two condominium projects at Andres Abellana and the North Reclamation Area, which will have 600 units and 700 units, respectively.

Published in the Sun.Star Cebu newspaper on April 26, 2012.

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Gwen Capitol deal with Filinvest ‘better’ than SRP

5/29/2012

Cebu Gov. Gwendolyn Garcia yesterday said the P6-billion venture between the Capitol and Filinvest Inc. to build a BPO complex in Salinas Drive was better in many ways than Filinvest’s joint venture with Cebu City in the South Road Properties (SRP) which was negotiated during the administration of then Cebu City mayor Tomas Osmeña.

Her comparison came after Rep. Osmeña said her brother Cebu 3rd district Rep. Pablo John Garcia should now apologize for describing Filinvest’s joint venture development in the SRP as a “corrupt” deal in 2009 when Garcia demanded a congressional investigation in a privilege speech where he called the Cebu City joint venture a “sweetheart deal” that gave Filinvest undue advantage.

Governor Garcia said there were several pluses in the Capitol’s deal.

First, the province did not sell the Lahug lot and instead leased it to Filinvest, a move she said is more beneficial than selling reclaimed land in SRP.

In terms of income, Garcia said the Capitol will receive P600 thousand a month as rental from Filinvest and around half million pesos a year from the venture's gross annual revenue over 25 years.

In Cebu City’s joint venture deal with Filinvest, the private developer is paying P1.5 billion in seven annual installments to Cebu City for 10.6 hectares .

For the other 40 hectares, Cebu City will receive a 10 percent share from sale proceeds.

Governor Garcia said said the 10 percent share of the city from other lots sold will still be reduced because an “exclusive marketing agent,” as stated in the contract, will get a portion of the city's share.

“On the SRP venture, they already sold the lot so if it gets developed, we will not get anything out of it. The 40 hectares will be developed and the city will get only ten percent from it. There is even an exclusive marketing agent who will also receive a share of the city's 10 percent. I don't know who that agent is but it is stated in the contract. “

In contrast, Garcia said the Capitol's joint venture deal with Filinvest to build a BPO complex in barangay Lahug under a Build-Transfer-Operate scheme will increase outright the assets of the province by P5 billion in the next four years.

She pointed out that the the P1.7 billion building of the BPO complex will be turned over to the Capitol once it is finished, a clear advantage over the 10 percent share of the city on their SRP venture.

“In our venture, after the first building is finished, it will immediately be ours. The asset is turned over to the Province of Cebu which will immediately add to our assets by P5 billion without selling property, ” she said.

Governor Garcia said that if Osmeña wants to make his own privilege speech in Congress to comment on the Capitol's venture.

“Once he has decided on his confusion of whether he is a spokesman for Filinvest or a congressman of the south, he can always rise in Congress and deliver a privilege speech. Make that his story because we have been waiting for so long. Hopefully we could finally hear his voice. That is if he can do it,” said Garcia.

She said she was amused to read about Osmena’s criticism in the newspaper.

“ I was amused and wondered whether Tomas is already a spokesman of Filinves. If that is so, II thought he was a congressman,” she said in a press conference.

Cebu City Mayor Michael Rama for his part said there was no need for Congressman Garcia to apologize.

“Let’s not talk about the past but instead learn from the past and build up for today so we can be able to deliver the goods for tomorrow,” Rama said.

In 2009, Cebu City signed a joint venture agreement with Filinvest to develop 50.6 hectares in the 300-hectare reclaimed land of the SRP for a mixed development of medium-rise residential buildings and retirement complex.

Part of the 10.6 hectares paid for by Filinvest in an outright purchase has ongoing construction for the seaside residential and commercial complex of Citta di Mare and Amalfi Oasis.

Meanwhile, the Province of Cebu and Filinvest last Saturday broke ground in a 1.2 hectare province-owned lot in Salinas Drive near the Asiatown IT Park for a BPO complex under a BTO scheme.

Filinvest said it is set to start construction of a P1.7 billion building for business process outsourcing in the Capitol property by the third quarter of this year.

Garcia said the project underwent a public bidding participated by three big companies namely the Ayala Corporation, Metro Gaisano Group and Filinvest.

She said the SRP venture did not have the benefit of a public bidding.

“Was the SRP agreement examined well so that its provisions are advantageous and not grossly disadvantageous to the government that we are representing?,” she asked, repeating doubts raised by her younger brother Congressman Garcia in his April 20, 2009 privilege speech in the House of Representatives.

Filinvest submitted an unsolicited proposal to Cebu City for the SRP lots. After a review, the proposal underwent a Swiss Challenge, where other bidders were invited to match or better the proposal. The Province of Cebu tried to enter but was considered unqualified to make a bid because the local government was not considered a real estate developer. /Peter L. Romanillos, Correspondent

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