City may remove arena as condition in lot sale
The city government is now looking at the possibility of removing the construction of an arena as requirement in selling the 26-hectare San Pedro Calungsod templete lot at the South Road Properties.
This after big-ticket investors SM Prime Holding Inc., Robinsons Land Corporation, Filinvest Land Inc., Megaworld Corporation and Ayala Corporation have all asked exclusion from this condition, said lawyer Jose Daluz III, chairman of the committee on awards.
The city’s existing terms include a provision, which states that the buyer “should put an arena that is free of cost to the city.”
Daluz said this provision is proving to be unreasonable considering that SM, for one, will build an arena inside the SM Seaside Complex. Having another would just trigger competition.
“In consistent with the policy of SRP that as much as possible that the locators will not be competing with each other so there is a move to remove that condition of arena in the terms and reference. Also, the fact that there is already an arena to be built in SM, it will really compete. We can’t afford two arenas in Cebu City,” Daluz said.
Daluz admitted earlier that this provision has delayed the sale of the lot.
The city has decided to include this requirement in the terms of the sale because Mayor Michael Rama wants to develop a multi-purpose stadium at the SRP that can host international events and even sports competitions.
“The mayor wants an arena at the SRP. Mao nay nalanganan sa ( That delayed the crafting of the) terms and reference kay (because it is a) delicate ang paghimo sa (matter to include in the) conditions and details,” Daluz said.
Daluz said the city will bid out the P5 billion lot and the interested investors are yet to present their plans and concept designs.
“We will choose who can give us a good price. The investors have no specific plans yet but all of them have very good reputations,” he said.
The property is located across the lot sold to SM Prime Holdings and along the Mambaling access road. The block was the site of the National Thanksgiving Mass in 2013, which was celebrated in line with the canonization of Saint Pedro Calungsod.