SunStar Publishing Inc.
A MIXED-use building and tower complex is set to rise at the Cebu Provincial Government’s Ciudad Property, which is adjacent to the highly commercialized Cebu IT Park, along Gov. M. Cuenco Ave. in Cebu City.This, after the Cebu Provincial Government, led by Gov. Gwendolyn Garcia, turned over the 1.2-hectare of the 1.4-hectare Ciudad Property in Barangay Apas to Filinvest Land Inc. on Friday, March 22, 2024.The property’s remaining 2,000 square meters will follow.
The new rental rate now starts at P65 per square meter per month with an escalation rate of five percent per year, which will begin in the sixth year of the lease.The Provincial Government shall also have a share of two percent of the gross sales or P200,000 per month, whichever is higher.