Cebu town will be transformed into an economic ‘powerhouse’ under the P12-B project.
CEBU CITY, Philippines – Cebu Governor Gwendolyn Garcia said Friday that a PHP12 billion, 254-hectare reclamation project will soon transform the peaceful town of Cordova into an economic powerhouse with its mixed-use commercial and leisure hub.
Garcia claimed the project will result in “so much economic boom not only for Cordova but for the entire province of Cebu,” as he led other government officials and development contractors in the groundbreaking and time capsule-laying event.
“We have manifested visibly to the world that soon, heretofore, visible and invisible reality will start to emerge and become finally the realization of a dream that has been held by so many, for so long,” Garcia stated during the ceremony.
The reclamation project, according to Cordova Mayor Mary Therese Sitoy-Cho, will complement the Cebu-Cordova Link Expressway, an 8.9-kilometer toll bridge also known as the Third Cebu-Mactan Bridge, which is expected to open this year.
Cho stated that before her father, former Presidential Legislative Liaison Office Secretary Adelino Sitoy, died last year, he made sure the reclamation project contract was finalized.
She praised Garcia for approving the project and the provincial government’s Economic Enterprise Council and Provincial Board for endorsing it.
“This will truly be the start of fresh development in Cordova, with the goal of expanding our backyard,” Cho remarked.
The provincial government and the Cordova Shores Development Corporation signed a joint venture agreement for the project on February 4th, through Garcia.
The project will be built by Premium Megastructures Incorporated and Ulticon Builders.
The reclamation project is expected to finish two sites: Site 1 will be a 204-hectare mixed-use commercial, business, and residential district, and Site 2 will be a 50-hectare business and residential hub with a recreational area that will include a cruise ship dockside.
Ground filling of the 254-hectare coastal region in the four barangays of Catarman, Buagsong, Alegria, and Poblacion, as well as horizontal development for the envisioned mixed-use facilities, are two components of the project.
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