Nava developer assures clients: We’re operating under different management
ORIGINALLY part of a 122.83-hectare development, the developers of the 36-hectare Naga Valley Industrial Park (Nava) in Barangay Cantao-an, City of Naga is assuring its clients that they are operating under a different management.
In a statement sent to Sun.Star Cebu, Primary Properties Corp. clarified that the property on which Nava stands was acquired in 2013 from Planters Development Bank, which foreclosed the property from MRC Allied Industries in 2003. MRC Allied, the registered operator and developer of the New Cebu Township One, had mortgaged the 36 hectares to the bank in 1997.
PPC’s subsidiary Meridian 123 Corp. acquired the property and applied for registration with the Philippine Economic Zone Authority (Peza) to develop and operate the 36 hectares. The registration was approved in March 31, 2014.
“Today, Meridian/PPC assures its clientele and the public that these issues have been resolved and Nava is ready to move forward,” the company said. “We want to convey the message that the property is in good hands, with a new developer and owner that has top expertise and experience in the industry, and has the capacity to make it grow.”
After getting the permits from Peza and the City of Naga, PPC began clearing and cleaning operations and implemented rehabilitation and improvement works on infrastructure under its project development and community development plans.
They have so far completed repair and rehabilitation of 3,382 square meters of road within the zone while additional repairs and rehabilitation are ongoing. They have also established an alliance with the local governments of the City of Naga and Minglanilla for rehabilitation works of the Inayagan-Cantao-an and Guindarohan access roads, which include road pavement repair, streetlights and road widening.
Nava was officially launched Friday.