Docs in the works: Cordova plays host to P300B Korean-Chinese joint venture

CEBU, Philippines - A Korean-Chinese joint venture company, Ed View Corporation Philippines has started the documentary works of its P300 billion integrated development project in Cordova, Mactan Island, Cebu.

This was announced yesterday by Cordova Vice Mayor Therese Sitoy-Cho, during the official kick off opening of the 5th Cebu City Korea Week, which will start on October 1 to 5, at the Ayala Center Cebu.

Sitoy-Cho, whose husband Bong Hwan Cho, the president of the Korean Association of Cebu, announced that the 70-hectare project is the largest venture so far, that will be developed in Cordova.

She said the project is master planned to be completed in the next 10 years, and once the documentary requirements will be completed, ground works will immediately follow.

The company will build residential and commercial condominium towers, a resort, a retirement village, and other facilities that will complement the economic growth of Cebu.

The lady vice mayor also said that aside from Ed View Corporation, there is also an increasing number of Korean investors who have expressed interest to invest here.

Likewise, the Korean-led Cebu Cordova Golf and Resort Inc., in a joint venture with the municipality of Cordova on Mactan Island is also starting the P30 million development of the Marine Culture Park, that is seen to boost the town's eco-tourism positioning.

She said that following the construction of buildings by SM, Gaisano Metro, and a 75 hectare IT Park project within the 1,500 hectare Marine Culture Park, other amenities will be opened this year to officially kick off the commercial operation of the park.

According to Cho, the upcoming opening of the P17 billion third bridge, that will connect Cordova to southward route point in SRP is likewise seen to boost the town's economic backbone, as well as lure more investors.

Meanwhile, the Korean Association of Cebu has lined up several activities during the four-day Cebu City Week, such as film festival, exhibit, K-Pop concert, among others, to be held in major malls in the city.

There are now over 30 thousand Korean nationals who are active members of the Cebu Korean Association, about 20 thousand of them are doing business here, others are based in Korea but are frequent visitors of Cebu. (FREEMAN)