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Urban Rebel
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Discussion Starter · #1 ·
Cebu's biggest future business district!


Multi-billion project at SRP eyed

- See more at: cdn

^^ na-surprised ko ani da! DAMAC Properties is a big time
real estate developer here in the middle east...here are some
of their projects:

...i hope dili na mobabag ang city council..hehe!

source: http://www.damacproperties.com





Multi-billion project at SRP eyed
By Doris C. Bongcac
http://cebudailynews.inquirer.net/2014/06/24/multi-billion-project-at-srp-eyed/


A foreign investor wanted to use Kawit Island at the South Road Properties (SRP) for a mixed-use development project which would include restaurants, coffee shops and a marina for its visitors. Ziad Shibi, senior vice president for business development of DAMAC Properties Co. LLC, wrote to Cebu City Mayor Michael Rama on May 14 to express his company’s desire to invest at the SRP. Shibi’s letter said they would need the 10-hectare Kawit Island for their development project. His one-page letter mentioned that company representatives already made a site visit at the area in March and saw the potential of putting up business there. They also met with Rama at the Department of Tourism (DOT) Central Office in Manila for preliminary talks about their investment proposal. “We are ready to move into the next step of submitting to you the concept design, once we have received the answers to the question raised by our technical team,” said Shibi’s letter. Rama said in an earlier interview that Damac is expected to bring billions worth of investments into the city. However, he is yet to clarify how they wanted to go about their planned use of the Kawit Island, either through direct purchase, lease or joint venture. Also, he is not privy on the details of their planned development. Damac has built a reputation for creating some of the most iconic and desirable properties in the United Arab Emirates, Qatar, Saudi Arabia, Iraq, Jordan and Lebanon. Established in 2002, DAMAC has ties with Paramount Hotels & Resorts, (the official licensee of Paramount Pictures), Italian fashion houses Versace Home and FENDI Casa in producing branded residential apartments and villas and the Trump Organization for the development and operations of the Trump International Golf Course, Dubai and The Trump Estates within the AKOYA by DAMAC Development. -
 

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Finally, we have a thread for Cebu's Largest Business District in the making.. :banana: :banana: :banana:

Thanks for creating the thread @ Zuburbia.. :cheers:

Lets discuss all SRP related projects either rumored or proposed here as well as matters that involves SRP. :D
 

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Urban Rebel
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Discussion Starter · #6 ·
Hilig jud kayo ning Damac og mga waterfront development...like the dubai marina and business bay sa Dubai, may untag ila nalang nang angkunon ang whole inlet nga nagseparate sa mainland cebu and SRP...

Pareho baya jud gihapon nag concept sa dubai marina and business bay ang inlet sa SRP...i-dredge lang nang sa SRP then pasudlan og nga Yacht!


SRP, Cebu



Business Bay, Dubai



Dubai Marina
 

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Urban Rebel
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Discussion Starter · #7 ·
asay part ang ganahan ninyo i-develop sa Damac? hehe ganahan ko ang pinkatumoy sa right facing Ludo and mambaling. hehe

ok pod kayo nang sa Kawit, og gitung-an sa filinvest og korean..:D


 

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mr lakawboy;)
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hahaha... suya ko ni @Zuburbia da kay SRP thread gyud ang na buhat... unhan ko da!... :D
kabasa guro ni siya sa fb ay...:colgate:
 
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Wow! Ganahan kaayo ko sa mga dev'ts sa SRP. For sure matalbugan niya ang Fort Bonifacio sa Manila! :cheers:Go! Go! Go! :banana::cheers:
 

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City sees P5B revenue with Dubai firm’s plan
By Princess Dawn H. Felicitas
Tuesday, June 24, 2014

THE plan by a luxury real estate developer in Dubai to invest in a 10-hectare property in Kawit Island at the South Road Properties (SRP) could earn the Cebu City Government at least P5 billion.

SRP Management Office chief Roberto Varquez said the projected earning of the City is based on Damac Properties Co. LLC purchasing the 10-hectare lot. Damac sent a letter of intent expressing interest to invest in the SRP.

Varquez said the amount will be enough to pay the City’s loan to the Japanese Government for the construction of the 300-hectare SRP.

Based on records of the City Treasurer’s Office, the City still has to pay P3.65 billion of the P7.08 billion principal loan, P1.15 billion of P3.39 billion interest and P180 million of the P736.57 million for the guarantee fee of the SRP loan.

Cebu City started implementing the SRP through a loan from Japan International Cooperation Agency in 1995, with the amount payable until 2025.

Varquez and Mayor Michael Rama said yesterday that although Damac has not yet decided whether to purchase the 10-hectare property or lease it or undertake a project under a joint venture agreement with the City.

Damac earlier said the plan was to develop the 10-hectare Kawit Island into a high-end mixed use project with restaurants, coffee shops and a little marina.

Opportunities

Aside from the possible income that the City could earn, Varquez said yesterday that Damac’s investment at the SRP will place Cebu City in the “map of tourism” worldwide.

He said it will open up a lot of opportunities for the city, which may include direct Middle East flights to and from Cebu.

Varquez said this is the first time that Damac, which is a residential, leisure and commercial developer, will be investing outside the Middle East.
more > http://www.sunstar.com.ph/cebu/business/2014/06/24/city-sees-p5b-revenue-dubai-firm-s-plan-349978
 

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:-) good vibes!
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^^ let's cross our fingers guys! i hope wala'y mag-kontrabida
sa proposal as long as favorable sa city, income-wise and job-generator :D
 

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^^ very excited ko ani kay luxury real estate developer ra ba. unya naa pa atbang nga yuta sa Kawit dako pa raba basig ilang paliton mag tapad na unya sa SM development.
 

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mr lakawboy;)
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patok kaayong thread ni @Zubs dah! :lol:

Ang SRP equivalent sa Odaiba sa Tokyo... :yes:

Nadani ang investor tungod sa view... imagine mag coffee coffee ka nga nag atubang sa Cebu skyline og SM Seaside :cheers:
 

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:-) good vibes!
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^^ @zuburbia, the "thread starter star" :lol:


para, dili ma O.T.:


...further to the news article about DAMAC's interest to invest at SRP:

See more at: http://cebudailynews.inquirer.net/2...ct-at-srp-eyed/#sthash.9IFFnPZA.FEYZo5kB.dpuf

..company representatives already made a site visit at the
area in March and saw the potential of putting up business there.

We are ready to move into the next step of submitting to
you the concept design
, once we have received the answers to the
question raised by our technical team

They also met with Rama at the Department of
Tourism (DOT) Central Office in Manila for preliminary talks
about their investment proposal

:D
 

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naka tabang sab ang Filinvest ug SM Seaside. pero mas nindot pa ilang pwesto kay centro as SRP, ideal kayo sa marina type development.
 
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