Gokongwei to pour P18B for Cebu township
The sparse property will be called the Isla dela Victoria.
Bilyonaryo John Gokongwei has committed to invest a whopping P18 billion to develop the South Road Properties (SRP) area in Cebu. City Mayor Tomas Osmeña revealed in March that their discussions have born fruit, with the self-made man behind Universal Robina Corp. and Cebu Pacific committing to develop an 80,000 square-meter integrated area in the city.
Once built, the SRP will be home to a huge cluster of restaurants, bars, a mall, convention center, casino, park, theatre, and hotels.
“This development will be called Isla dela Victoria, named after Jojo dela Victoria, a Cebuano who died protecting our waters from dynamite fishermen,” Osmeña shared on Facebook.
“Isla dela Victoria will put the spotlight on the SRP. It will be accessible by sea taxi directly from Mactan Airport. It will be the hub for the ferries and cruise ships that will come, and for the seaplane airline that is already there. It will be the shining beacon of the Visayas.”
Gokongwei did an ocular inspection at the SRP in December 2017. That was pretty fast!