Updated December 27, 2008 12:00 AM
CEBU - A multi-million golf course and a hotel will soon rise in the town of Cordova.
The world-class Cordova Cebu Golf and Resort, Inc., which costs more than P2 billion, will be constructed on the town’s Lava Island.
It will be built on a 62-hectare lot but since Lava Island is only 14 hectares, 47 hectares of the resort will be reclaimed.
Cordova Mayor Adelino Sitoy, Cebu Governor Gwendolyn Garcia, Cebu 2nd district Representative Pablo Garcia, several town and Capitol officials, and investors met last December 23 to discuss the construction of the golf course and marina.
In their meeting at the Cebu International Convention Center (CICC), Sitoy formally presented the project before officials of Cebu Provincial Reclamation Authority (CPRA) and Provincial Economic Enterprise Council (PEEC).
The project will be subject to a Swiss Challenge under the build-operate-transfer scheme.
It was agreed that the investor will build the project and will turn over its ownership and operation to the town and province after 25 years.
“We are not the ones taking out the loan or spending for the construction of the hotel,” according to Governor Garcia.
The governor suggested that the scheme of the project be similar to the one on Malapascua Island, where the Department of Environment and Natural Resources turned over the administration of an eco-tourism development plan to the local government of Daanbantayan.
The Daanbantayan government then requested the province to operate and manage the famed Malapascua Island.
Sitoy expects the ground works of the project to start by January 2009.
The project, which is expected to generate more jobs and boost the tourism industry of Cordova, is a joint business deal between Filipino and Korean traders. It includes the construction of 1.8 kilometer bridge, which will connect the reclaimed area to the Lava Island.
Sitoy also asked the CPRA to accept the “unsolicited offer” and for it to conduct “direct negotiations” with the municipality and province on the project.
But the mayor also recommended the signing of a memorandum of agreement before the project starts.
The PEEC will recommend to the Provincial Board guidelines for the joint venture for approval through an ordinance or a resolution.
Sitoy, however, assured that the planned reclamation will not affect the livelihood of the fisherfolk in his town.
“I discussed that matter with (Ricardo) Cardinal Vidal. I brought the fishermen there,” he said.
Charlie Cho, special project coordinator for Masillo Inc., the firm that intends to build the resort, said they aim to finish the project in two years.To Learn more about Cebu Real Estate Industry, Call:
RealtyOPTIONS Marketing & Consultancy Inc.- President/CEO
Tel Nos: (+63 32) 5166194 / 2550374
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