The Cebu City council has endorsed the application of the Gokongwei-led Universal Hotels and Resorts Inc. to build an integrated resort and casino at the South Road Properties despite concerns raised by some of its members.
The endorsement, which was necessary for UHRI?s application with the Philippine Amusement and Gaming Corp., had met opposition from some of the council?s members.
Some members felt it was premature for the city government to endorse the project as it would still be subject to a Swiss challenge. They also noted the legal issues that might crop up with the council?s endorsement of the project, saying the property is not part of the reclaimed portion of the SRP.
The proposed P18 billion mixed-use project will include a casino, hotels, a convention center, yacht club, water park and restaurants.
The Gokongweis will tap a foreign partner for their project.