Cebu council rejects Gokongwei’s P18-B mega project
The grand township plan went down the drain due to politics.
Bilyonaryo John Gokongwei’s grand plan to develop the South Road Properties in Cebu has been cancelled, Mayor Tomas Osmeña revealed on Friday, May 11, after a 8-8 vote among members of the City Council.
Gokongwei was declared to be “not qualified” to take on the huge investment worth P18 billion despite his track record in running the Robinson’s chain and Cebu Pacific.
Osmeña is pinning all the blame to politicking from the side of Vice Mayor Edgar Labella, who is the ally of his nemesis ex-Mayor Michael Rama.
“An 18B project was canceled today because according to Team Suyop, the owner of Robinson’s and Cebu Pacific, who is a fellow Cebuano and one of the richest men in Asia, is “not qualified,” a frustrated Osmeña revealed.
“This is the signature of Team Rama. Since they have nothing good to offer, they will make sure no one else can offer anything either.”
Gokongwei committed to pour investments back in March to develop an 80,000 square meter sprawl into the Isla dela Victoria, which will be home to restaurants, bars, a mall, a convention center, casino and hotels.
What a bind!