CLI eyes provincial property near Cebu IT Park

CEBU Landmasters, Inc. (CLI) has expressed interest to develop a 6,000-square meter prime property across the Cebu IT Park owned by the Cebu provincial government. “Well, they expressed their interest to participate in any bidding for the development of several strategically-located and highly valuable properties of the province,” Governor Gwendolyn F. Garcia said. “Here is a homegrown… developer that can now be at par with other developers from Manila,” she added. CLI is also eyeing to develop the 849-square meter lot located at Jose Maria del Mar Street within Cebu IT Park that the provincial government used to lease to Innoland Development Corp. “We initially thought that we would offer this for lease since there is already an existing building but they opened my eyes to the possibility of also including development there so that it widens the area and gives the interested developer more flexibility,” Ms. Garcia said. Innoland remains qualified to bid for the property. The governor said they are now working on the terms of references for the bidding of all the provincial government’s properties in prime locations. She said a build-operate-transfer contract will be the most likely arrangement. — The Freeman