Property developer MRC Allied to build P250M hotel in Cebu Township

MRC Allied Inc. is spending up to P250 million for hotel and leisure developments to jump-start the construction of a planned township in Cebu.

 

In a disclosure to the Philippine Stock Exchange, MRC Allied said the hotel and leisure project constitutes the first phase of the New Cebu Township One.

 

MRC Allied, however, clarified that it has not yet executed any agreement on this matter.

 

New Cebu Township is registered with the Philippine Economic zone Authority as a special economic zone.

 

The first phase of development—slated for completion in July this year—includes road widening and  reconfiguration of an existing lake to accommodate a proposed water park and recreational facility.

 

MRC Allied is in talks with PEZA authorities for the promotion of New Cebu Township as a prime economic zone in Cebu.

 

PEZA has committed to work closely with MRC to promote the zone to industrial locators especially from Japan who consider Cebu as a prime location for export oriented industries.

 

Apart from this, MRC Allied has started initial talks for the acquisition of the 8.2 hectare Seagate property inside New Cebu Township. The $40 million facility was never occupied. — VS, GMA News