CEBU, Philippines - The Province of Cebu is venturing into another tourism project. This time, it is a mountain resort and spa in a province-owned lot located in the municipality of Barili.
The 5.9 hectare property is located in the mountain barangay of Bolok-Bolok, with its springs that are believed to be medicinal.
Provincial Planning and Development Officer Engr. Adolfo Quiroga said they already have a master plan which was presented to the Aboitiz Group who reportedly expressed interest to invest.
However, the plan was stalled and Quiroga said this prompted them to revive it.
Quiroga said he already suggested to Governor Gwendolyn Garcia to venture into a public-private partnership (PPP) like what the province is doing in some projects.
Even before the government pushed for PPP, the Province of Cebu was already doing it such as in the case of the Ciudad Project.
Quiroga said that the province has two options to undertake projects through PPP such as a joint venture and Build-Operate-Transfer (BOT) scheme, like in the development of some properties of the province.
Recently, the Province of Cebu entered into a BOT scheme in the establishment of a Business Process Outsourcing (BPO) complex with Filinvest Land, Inc. in the property formerly occupied by Bagong Buhay Rehabilitation Center in Salinas Drive, Cebu City.
Another joint venture agreement is the development of the Carmen Bulk Water Project with Ayala-led Manila Water Company.
Quiroga said that in whatever option, the equity of the Province is to provide the lot which will be developed by their partner.
He said that they will soon advertise the development of Bolok-Bolok property in Barili to invite possible private investors for mountain resort and spa. (FREEMAN)