EDITORIAL - Politics hampers SRP development

The Cebu City government should be reminded about the concerns raised by the Japan International Cooperation Agency about the slow development at the South Road Properties. It should start kicking away obstacles that hinder more investments from pouring into the prized property touted as the next business district in the city.

So far, only two investors have been allowed to put up businesses at the 300-hectare land. The Filinvest Land Inc. is embarking on a high-end housing project and a seaside estate development while SM is building one of the country’s biggest shopping malls and a row of high-rise condominiums.  

Of course it was just valid for JICA to be concerned over why there are only few developments at the SRP. As the main donor, monitoring the pace of the development at the reclaimed property is just part of the mission of the Japanese agency, being an international lending institution.

Well, we all know that politics has something to do with the slow development at the SRP. Under the Rama administration, not a single investment was approved due to the refusal of the City Council to sell tracts of lands.

Mayor Michael Rama is moving heaven and earth to dispose of large portions of SRP in order for the city to earn. But members of the council, majority of whom are allied with the former mayor, declined to grant him any authority.

The political showdown between Rama and south district Representative Tomas Osmeña is getting more serious in the run-up to next year’s elections. And the SRP is just another victim of their bickering as they position themselves for a big battle ahead.

As a prime area, the SRP created a buzz among investors after its completion. But it is very unfortunate that its development remains sluggish despite the huge interest it has generated.

JICA officials see no need to blame anybody for this problem although they are quite sure that politics is hampering SRP’s development. Had the city officials were united in approving more development at the SRP, that piece of reclaimed land would have already surged to its rightful position as the crown jewel of the south.