EDITORIAL - Disposing of SRP lots right move for Rama

In a move aimed at encouraging more investments into the city, Cebu City Mayor Michael Rama reportedly wanted to sell more lots at the prized South Road Properties to interested investors.

Rama’s move was in contrast to that of his predecessor, who has been meticulous in marketing the almost 300-hectare lot. Former mayor Tomas Osmeña was so careful in his deal that he reportedly rejected bids from the country’s top land developers to invest at the reclaimed property.

So far, two giant firms have been allowed to develop portions of the SRP. They are the Filinvest Land Inc. and the SM Prime Holdings. Osmeña reportedly did not want to entertain development proposals from other developers until the Filinvest and SM can finish their projects.

This idea was anchored on the fact that the city has more to gain once prices of lot skyrocket few years from now. For Osmeña, more developers would splurge on SRP lots once Filinvest and SM are successful with their projects.

But Rama, seemingly eager to cash in on the pleasant business climate in the city, cannot wait any longer. As the city’s mayor, he wanted more cash to fund for projects such as road widening, drainage improvement, and squatter relocation, among others, under his term.

As we see it, Rama is clearly sprucing up his political image. Widening of roads, rehabilitating drainage and improving healthcare are all he needs to do to show to his constituents that he is living up to their expectations.

Of course he is the mayor and is expected to do these things. But as to where he gets the funds remains a question considering that the city is bleeding from the reclamation project.

So Rama is setting his sights on the SRP. In order to get some cash, he needs to dispose of some of its lots.

The move may mean more conflict with Osmeña. But it’s just the right thing to do for Rama in order to satisfy his programs and projects. Otherwise he is only good for one term.