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Article: Cebu City earns P24M in sale of SRP lot to Napocor.
- Article from:
- Philippines News Agency
- Article date:
- May 22, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CEBU CITY, May 22 (PNA) -- The Cebu City Government is expected to earn another P24 million from the negotiated sale of a portion of the 300-hectare South Road Properties (SRP) to the state-owned and controlled National Power Corp. (Napocor). The Cebu City committee on awards on property disposal on Wednesday approved the offer of Napocor to buy a 3,005-square meter lot at the SRP and recommended the sale to the Cebu City Council which will have the final say on the terms and conditions of the sale, including the price of P8,000 per square meter. Committee chairman Cebu City Administrator Francisco Fernandez said there will be no need for a bidding on the sale since the ...
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