Fate of 2 projects in Carbon market ‘in limbo’ amid CPA, Cebu City row

  • 📰 sunstaronline
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

NINE months have passed since all civil works on the Puso Village and the Mechanical Parking in the Maritima Ruins were halted, and the developers are still clueless as to the...

caught in the crossfire. The Puso Village across the Sto. Niño Chapel and the Mechanical Parking, both part of the redevelopment of the Carbon Public Market, lie idle, victims of an ongoing civil case between the Cebu City Government and the Cebu Port Authority. / AMPER CAMPAÑANINE months have passed since all civil works on the Puso Village and the Mechanical Parking in the Maritima Ruins were halted, and the developers are still clueless as to the future of these projects.

She said their role was to merely develop the lot and properties that were turned over to them by the City Government based on their January 2021 Joint Venture Agreement for the renovation and rehabilitation of Cebu’s oldest and largest public market, the Carbon Public Market. She said that both Puso Village and the Mechanical Parking have economic and tourism benefits and potential to Cebu City, as these are expected to generate jobs and livelihood.The Mechanical Parking, which has 156 parking slots, has mechanical lifters to allow vehicles to be parked vertically and in a stack, thereby providing much-needed additional parking spaces in the area.

On June 5, 2023, the same court asserted, via a decision, CPA’s ownership of the Compania Maritima within the baseport of Cebu as defined under Executive Order 448 dated Feb. 5, 1975, which established the custom zone for the port of Cebu.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 18. in BUSİNESS

Business Business Latest News, Business Business Headlines