THE FIVE-man committee of the Cebu City council that reviewed a proposal to build an P18-billion integrated resort on Kawit Island at the South Road Properties has recommended amendments to the planned joint venture between the city government and Gokongwei-led Universal Hotel and Resorts Inc. “UHRI shall justify the basis in proposing the 10 percent (shopping mall, hotel and bare-shell integrated resort) and 15 percent (casino) share of the city from the gross rental revenue,” reads the report of the committee, which spent six days for hearings to discuss the technical, financial, and legal aspects of the proposed development. The committee also proposed that the development should be completed within eight years. — The Freeman
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