Cebu City ‘banks’ on SRP for future income

Cebu City will be better next year, Mayor Tomas Osmeña assured his constituents as he revealed some of his plans and programs.

The City recently received an unsolicited proposal from one of the biggest firms in the country to invest at the South Road Properties (SRP).

JG Summit Holdings wants to lease Kawit Island and develop it into a commercial leisure complex.

Once the City closes the deal, a 1,000-bed hotel, a casino, a convention center and restaurants, among others, are expected to rise in the area.

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