By: Morexette Marie B. Erram - Multimedia Reporter - CDN Digital Published: June 11,2020 - 12:20 PM Full Article: PH, Japan formalizes loan agreement for 4th Cebu-Mactan bridge Snippet: CEBU CITY, Philippines – The Japanese and Philippine government has formalized an agreement involving loans of two big-ticket projects here, including the 4th Cebu-Mactan bridge. In a statement released earlier this week, the Embassy of Japan in the Philippines announced that Ambassador Haneda Koji and Foreign Affairs Secretary Teodoro Locsin Jr. has signed and exchanged notes for loans amounting to a total of 154 billion yen, or roughly P73 billion, for the construction of two infrastructure projects. These are the 4th Cebu-Mactan Bridge and Phase 2 of the Davao City Bypass. According to the press release, the former is estimated to cost 119 billion Yen (P56 billion) while its 35 billion yen (P17 billion) for the latter. “These yen loan projects to be financed by Japan seek to tackle connectivity and traffic congestion concerns confronting the rapidly developing metropolitan areas of Cebu and Davao,” the statement read. “Both projects form part of the ‘Build Build Build’ program to which Japan remains strongly committed,” it added.
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By: Morexette Marie B. Erram - Multimedia Reporter - CDN Digital Published: June 07,2020 - 04:34 PM Full Article: Investments in CV in Q1 drop by 63.5% Snippet: CEBU CITY, Philippines — Investment pledges in Central Visayas dipped when the world practically stopped during the first quarter of 2020 due to threats of the coronavirus disease 2019 (COVID-19). The Philippine Statistics Authority (PSA), in a report made on June 4 and signed by National Statistician Claire Dennis Mapa, found that the total amount of foreign and local investments made in the region for the first three months stood at P2.88 billion. It was 63.2 percent lower compared to the first quarter in 2019 when Central Visayas’ pledges amounted to P7.89 billion. The region is also the third among all 17 regions in the country with the highest rate of decrease in investment commitments, next to Bicol Region which dropped by 90.7 percent. Calabarzon is the region with the biggest drop at 93.4 percent. By: BusinessWorld Published: June 2, 2020 | 12:02 am Full Article: Cebu property sector eyes new strategies Snippet: CEBU’S real estate sector is looking to adopt new strategies to cope with the “new normal” amid the coronavirus disease 2019 (COVID-19) pandemic. In a Cebu property webinar hosted by Santos Knight Frank last May 7, property players said these strategies include work-from-home schemes, repurposing existing facilities and maximizing real estate assets. They also emphasized the importance of protecting the health and safety of their employees and stakeholders. “We feel a responsibility for every one of our stakeholders: employees, contractors, suppliers, construction workers. It’s all about picking the right baskets right now and having a game plan not just for 2020 but for the coming years ahead,” Franco Soberano, executive vice-president and COO of Cebu Landmasters, Inc., said during the webinar. |
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