Monday, March 16, 2009
TOLEDO City Mayor Arlene Zambo lauded the move of a Cebu-based real estate company to take the risk of investing in the city as it is yet to test its market in the area.
Zambo was a guest at the groundbreaking of a housing project by real estate developer Cebu Landmasters Inc. (CLI) in Media Once, Toledo City.
Zambo told reporters that CLI’s decision to develop the 3.6-hectare subdivision in Toledo City—the third San Josemaria Subdivision project in Cebu—signifies the de-veloper’s trust in the local government unit.
She said there is a big demand for housing projects in Toledo and residents are financially capable to buy house-and-lot units.
The development, said Zambo, is a step toward creating more demand in the city for facilities that will serve the needs of its future residents.
Investments
Meanwhile, CLI president Jose Soberano said the com-pany’s decision to put a subdivision in Toledo City was also a way of helping the city create a demand for more investments.
The San Josemaria Village in Toledo offers house-and-lot units that are priced between P1 million and P2.7 million. Buyers can avail themselves of financing programs through banks or Pag-ibig.
“This is like a homecoming for me as my father is from Pinamungajan. I am also glad to be part of (Toledo’s) small beginning,” Soberano said in a speech last Saturday.
Zambo is inviting businessmen to invest in Toledo while the city is still in its “development stage.”
“Toledo City is uhaw sa (thirsty for) development. The city has always been left out in terms of development (projects),” she said.
Zambo recalled that when Atlas Consolidated Mining and Development Corp. (ACMDC) closed in 1994, many residents lost their livelihood and the City Government initiated activities that will generate income for them.
SMEs
Lately, Zambo said many small and medium enterprises (SMEs) started to sprout in different parts of the city and new investments that came to Toledo have created a venue for enterprising residents to go into business.
Although Zambo did not disclose the actual number of SMEs, she said Toledo has a “significant” number.
She said the biggest among these investments is the re-opening of ACMDC, now known as the Carmen Copper Corp. (CCC).
Last January, Toledo City held the groundbreaking of its 57-hectare special economic zone, the project of a consortium comprised of the City Government, CCC and Toledo Power Corp. (TPC).
Aside from TPC, Zambo said Asian Shipping will also locate in the economic zone.
In a few months, a big supermarket chain, banks and automated teller machines will be rise at the economic zone, Zambo said.
Despite the global economic meltdown, Zambo said she remains confident that more investments will come to Toledo City. (DME)
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