The future of Cebu looks even brighter when Robinson’s Land Corporation (RLC) finally paid the balance today amounting to Php 463,450,000 for a 4.6 ha lot at the North Reclamation Area known as Block 10. The property is worth Php 579, 312, 500. RLC is owned by Cebuano John Gokongwei.
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The City of Cebu became close to half a billion pesos richer yesterday after Robinson’s Land Corporation paid the balance for a 4.6-hectare lot it purchased in the North Reclamation Area.
RLC of Cebuano taipan John Gokongwei paid P463,450,000 representing the balance for the purchase of Block 10.
The total cost of the property I P579, 312,500. The check was handed by no less than RLC president and chief operating officer Frederick D. Go.
RLC made a down payment of P115,862,000 back in April 2006 when its officials submitted their bid to purchase the lot near the old White Gold Department Store.
Read full story HERE
photo by rustyboi
Wonderful! I hope the Gov’t will spend the money wisely.
Should take some pressure of Mayor Tommy.
Sinulog 09!!
so Ley, what does this mean to the city of Cebu? will this bring good vibe for productivity or just another money that will go down the drain? or history? hehehehehehe…… yeah, off pressure to Mayor Osmena! Viva Pit Senor sa Cebu kini!!! se ya on sinulog 09…
Hinaot maghimo sila ug Robinson #2 sa NRA, kay tuyuon kau ug adto ang sa Fuente
@Inday M. I hope they will make a bigger & spacious store this time. At Fuente O., I find it small. Were you shocked of the high priced commodities there? I was.