Chinese investors plan housing project in Cebu

• Source: http://news.mb.com.ph/2017/06/15/chinese-investors-plan-housing-project-in-cebu/
• Thursday, June 15, 2017 10:01 pm

By Mars W. Mosqueda Jr.

Cebu City – A group of Chinese investors wants to put up a socialized housing project in the province of Cebu.

Governor Hilario Davide III told reporters Thursday the group presented its plan for the project.

Davide said the entry of the Chinese investors into Cebu is a result of President Duterte’s vigorous campaign to draw businessmen in China to the Philippines.

He said he believes the Chinese have already identified the area for the project but are keeping to themselves along with other details of the plan.

Davide earlier said the provincial government will present the Trans-axial Highway project to Chinese businessmen and investors scouting for local projects.

The project is a 280-kilometer road that connects the northern and southern tips of Cebu. Starting from Daanbantayan town in the north, it will cut across Cebu’s mountains to Santander in the south.

The Trans-axial technical working committee estimates the project to cost about P56 billion in 2007. It was first proposed by the late Cebu Vice Governor Gregorio Sanchez.

The project includes a seven-kilometer-long seaport, a 550-hectare reclamation for Talisay-Minglanilla-Naga and four economic zones in Cebu’s 2nd to 5th districts.