Firms signify intent to lease Tabunok property
CEBU, Philippines - At least three mall operators have expressed interest in leasing and developing the 1.3-hectare property where the old public market stands in barangay Tabunok, Talisay City from the city government.
City administrator Ritchel Bacaltos, in a press conference yesterday, said the Metro Gaisano Group, Prince Warehouse, and Rustan’s were already informed about the conditions, which include the construction of a mall, the only counter part of the city is the property.
Bacaltos said the investor will be given the right to operate it for 20 to 25 years, depending on what will be agreed upon, but clarifies that one of the conditions is that the Talisay City government will have control on the specifications of the building that would rise from the lot.
Another condition being set is that the investor can sell anything in the property provided that the establishment doesn’t compete with the new public market, Bacaltos said.
He said the city doesn’t plan to sell the property.
Bacaltos also said that the implementation of the project will be up to the next administration. – (FREEMAN)
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