Re/Discovering Cebu, one story at a time

Cebu-Cordova bridge done by 2021; CCLEC signs P19B loan agreement

The Cebu-Cordova Link Expressway (CCLEX) is on track to be finished by mid-2021 and will transform the economy and social landscape of Cebu, according to officials of the company undertaking…

The Cebu-Cordova Link Expressway (CCLEX) is on track to be finished by mid-2021 and will transform the economy and social landscape of Cebu, according to officials of the company undertaking the project.

The Cebu Cordova Link Expressway Corporation (CCLEC) signed on February 7 a P19-billion loan and security agreement with 6 banks: Rizal Commercial Banking Corporation, Development Bank of the Philippines, Robinsons Bank Corporation, Union Bank of the Philippines, Bank of the Philippine Islands, and Security Bank Corporation. CCLEC is a subsidiary of the Metro Pacific Tollways Corporation (MPTC).

The total project cost of CCLEX is projected to be P30B. The rest will be funded by MPTC through equity or supplemental loans, said MPTC President and CEO Rodrigo Franco.

CCLEX loan agreement

LOAN FACILITY. Representatives pose with the finance documents after the signing of the P19 billion loan agreement.

 

Vote of confidence as investment destination

“This financing facility is also a vote of confidence for the attractiveness of the City of Cebu and the Municipality of Cordova as investment destinations,” Franco said. “The CCLEX is expected to transform the economic and social landscape of Cebu.”

CCLEC President and General Manager Allan Alfon said in welcoming guests to the signing that he looked forward to the ceremonial drive-through to mark the opening in a little over 2 years.

Construction of the CCLEX started last July 5 and all 21 piles of the main bridge’s Tower 2 have been completed while 17 of the 21 piles at Tower 1 have been constructed. These, the company said, form part of the bridge’s main foundation.

Cordova Mayor Mary Therese Sitoy-Cho said her town has been preparing its people and implementing infrastructure projects ahead of the completion of the 3rd bridge.

Outstanding partnership model

Francisco Fernandez, executive assistant of Cebu City Mayor Tomas Osmeña, said they could see the project “from our 8th floor office and we would testify that things are progressing very well. ”

Fernandez spoke for Osmeña during the signing and said the Cordova-Cebu City bridge was an “outstanding model for public-private partnership.”

“First, it reflects our philosophy that government should only provide a service that the private and civic sector are unable or unwilling to do so. Metro Pacific and all the other entities are willing to fill a need so please go ahead then we can reserve our resources for the other needs of our citizens.” Fernandez said.

The project is also a “model of bipartisan support.”

“This was approved by the previous administration and continued by the present administration and today it is receiving unanimous support from the council and all the other government and non-government agencies. It is a fantastic example of what unity can do,” he said.

“Most of all, it is outstanding because the taxpayers do not pay for this project, it is the users. Those people who are not willing or are unable to use this project, they do not have to pay for it. In fact, the City of Cebu and the Municipality of Cordova are not going to spend a single centavo of taxpayers’ money for the bridge,” he said. Instead, they will earn from this project.

3rd bridge Adelino Sitoy

MORE INFRA PROJECTS FOR CEBU. Secretary Adelino Sitoy of the Presidential Legislative Liaison Office talks about other infrastructure projects being undertaken in preparation for the 3rd bridge.

 

More infra projects

Secretary Adelino Sitoy of the Presidential Legislative Liaison Office said that as part of the preparation of the bridge, government has started to build a coastal highway from the CCLEX approach in the Cordova side to the Gabi Bridge “in order to be nearer to the beach areas of Lapu-Lapu.”

Sitoy said P187 million has already been released for the project with a further P400 million to be disbursed soon. He said what is needed after this would be a skyway to connect the bridge to the passenger terminal of the Mactan Cebu International Airport.

And there’s more, said Sitoy, who shared that he had been dreaming about the 3rd bridge for close to 30 years.

“We look forward to another bridge, to Getafe in Bohol from Cordova,” Sitoy added.

No Comments on Cebu-Cordova bridge done by 2021; CCLEC signs P19B loan agreement

Cebu Link Joint Venture issued Notice of Award for Cebu-Cordova Link Expressway

The Cebu Link Joint Venture (CLJV) has been issued the Notice of Award for the “Design and Build” contract of the 8.5-kilometer Cebu-Cordova Link Expressway (CCLEX), the much-anticipated bridge project…

The Cebu Link Joint Venture (CLJV) has been issued the Notice of Award for the “Design and Build” contract of the 8.5-kilometer Cebu-Cordova Link Expressway (CCLEX), the much-anticipated bridge project that will connect Cebu City to the Municipality of Cordova in the island of Mactan.

CLJV is a joint venture of Spain-based Acciona Construccion S. A., and Philippine-based First Balfour Inc. and D. M. Consunji Inc., all of which have proven track records in major infrastructure projects.

Cebu Cordova Link Expressway Corporation (CCLEC) issued the Notice of Award to CLJV on November 23, 2017 at an agreed contract amount of P22.6 billion.

CCLEX will have two lanes in each direction and will feature the main navigation span bridge, along with viaduct approach bridges, a causeway, roadway and toll facilities.

CCLEC is a subsidiary of Metro Pacific Tollways Corp. (MPTC), the toll road arm of Metro Pacific Investments Corporation (MPIC), a publicly-listed infrastructure holding company. MPTC is the largest toll road concessionaire and operator in the Philippines that has now expanded its business in other Asean countries namely, Thailand, Vietnam and Indonesia. The CCLEX is the first of MPTC’s envisioned toll road expansion projects in Visayas and Mindanao.

Acciona’s Ruben Camba, representing the CLJV, said: “We are delighted to be part of this landmark project. We have put together a very experienced team, and are looking forward to working closely together with the customer to deliver a new toll bridge that will benefit both local communities and the Philippines.”

“We are very confident that we can deliver a quality state-of-the-art bridge that will provide not just travel efficiency but also drive economic growth and productivity in the entire Visayas region, and improve the overall welfare of the Cebuanos,” said CCLEC President and General Manager Allan Alfon.

“We are happy to be given this opportunity to bring to Cebu and share with the Cebuanos and the people in the Visayas in general, our company’s expertise in building and operating world-class highways and bridges to create more opportunities and spur economic growth,” MPTC President Rodrigo Franco said.

The CCLEX will give Cordova direct access to Cebu City and is envisioned to decongest the traffic in the two existing bridges between Mactan and Cebu.

CCLEC will build, operate and maintain the toll bridge through a joint venture agreement with the local governments of Cebu City and Cordova Municipality.

CCLEX will have two lanes in each direction and will feature the main navigation span bridge, along with viaduct approach bridges, a causeway, roadway and toll facilities. The span of the bridge allows for shipping traffic and the link is expected to serve at least 40,000 vehicles daily. It will give Cordova direct access to Cebu City and is envisioned to decongest the traffic in the two existing bridges between Mactan and Cebu.

President Rodrigo Duterte led the groundbreaking for the project in Cordova, Cebu last March 2, 2017. (Press Release)

No Comments on Cebu Link Joint Venture issued Notice of Award for Cebu-Cordova Link Expressway

MPTC appoints Allan Alfon CCLEC president and general manager

Metro Pacific Tollways Corporation (MPTC) has announced the appointment of Allan G. Alfon as president and general manager of the Cebu Cordova Link Expressway Corp. (CCLEC) effective May 2. CCLEC…

Metro Pacific Tollways Corporation (MPTC) has announced the appointment of Allan G. Alfon as president and general manager of the Cebu Cordova Link Expressway Corp. (CCLEC) effective May 2.

CCLEC is MPTC’s subsidiary that will be responsible for overseeing the construction, operation and maintenance of the P27.9 billion Cebu Cordova Link Expressway (CCLEX).

Alfon is a Cebuano with more than 25 years of experience in construction and engineering management, business development, commercial leasing and property management, and network development/franchise management across major Philippine companies involved in real estate and property development, food franchising and oil and engineering.

Visayas, Mindanao infra projects

“It is with great pleasure that I welcome Allan G. Alfon to the Tollways group. Allan shall take the lead in pushing the completion and growing the pipeline of our infrastructure projects in the Visayas and Mindanao Regions. He shall also be a member of our senior Management Committee,” said MPTC President and CEO Rodrigo E. Franco.

Cebu Cordova Link Expressway

Groundbreaking of the Cebu Cordova Link Expressway.

Alfon is a licensed civil engineer from the University of San Carlos and has completed the management development program at the Asian Institute of Management.

“I am excited to lead the implementation of the CCLEX project and help realize the vision of the Metro Pacific tollways group. Together with my Cebu-based team, I look forward to working hand in hand with our partners, the Cebu City and Cordova LGUs in ensuring the safe and quality construction, operation, and maintenance ofthe CCLEX. As a Cebuano, I am personally committed to the success of this project knowing the economic and social benefits that it will generate for the people of Cebu and the Visayas region,” Alfon said.

Cebu team

Joining Alfon’s core team at CCLEC are experienced Cebu-based professionals including project manager Engr. Herbert Laboy, Atty. Rosemarie Versoza, Jasmin Suma-oy and Engr. Roman Ranises.

President Rodrigo Duterte led the CCLEX Groundbreaking Ceremonies last March 2. Joining the President were Cebu City Mayor Tomas Osmeña, Cordova Mayor Therese Sitoy-Cho, cabinet officials and MPTC Chairman Manuel V. Pangilinan.

Spanning about 8.5 kilometers, the CCLEX is a combined causeway and bridge toll facility between Mactan island and Cebu City initiated by MPTC together with the local government of Cebu City and Cordova. Upon its completion, the project is envisioned to ease traffic congestion in metropolitan Cebu and eventually spark economic growth and productivity not only in Cebu Province but also in the Central Visayas Region. (Press Release)

No Comments on MPTC appoints Allan Alfon CCLEC president and general manager

Filinvest offers ready-for-occupancy condos under easy, express move-in scheme

With several of its new projects starting or about to start soon, Filinvest is selling its few remaining condo units in the company’s resort-themed communities in Cebu and Cagayan de…

With several of its new projects starting or about to start soon, Filinvest is selling its few remaining condo units in the company’s resort-themed communities in Cebu and Cagayan de Oro under an express move-in promotions.

Prospective buyers will only have to pay five percent of the contract price of any unit at Amalfi and Sanremo Oasis at the South Road Properties or One Oasis Cebu and One Oasis Cagayan de Oro and they can immediately move in, said Filinvest Land Inc. area general manager for the Visayas Allan G. Alfon.

Allan Alfon Filinvest

Filinvest Land Inc. area general manager for the Visayas Allan G. Alfon talks about the company’s express move-in promotions during a press conference. (Photo: MyCebu.ph)

Filinvest properties

The promo is open to buyers purchasing the ready-for-occupancy (RFO) units of Filinvest under a bank financing scheme. It will run until July 31.

Also being offered under the promo are the pricier units at Grand Cenia along Archbishop Reyes Avenue just across the Cebu Business Park.

Amalfi Courtyard. (Photo: Filinvest)

Amalfi Courtyard. (Photo: Filinvest)

Amenities already in place

One major advantage of RFO units, such as those that Filinvest is offering under the express move-in promo, is that the condominium amenities are already in place, Alfon added.

To make the promo even more attractive, Filinvest also waives the move-in fees and takes care of the bank financing charges which can go as high as two percent of total unit price, said senior manager for City de Mare project development Julie Castaños.

“This is our gift to buyers. We make it very easy for them to acquire a unit. The promo is timely, especially since classes are about to open,” she added.

One Oasis Cebu. (Photo: Filinvest)

One Oasis Cebu. (Photo: Filinvest)

 

Right time to buy

Since the launch of the promo last May 17 for in-house agents and May 20 for brokers, they were already able to close transactions for around 20 units at the SRP developments alone.

With Filinvest about to start on the expansion of Sanremo, One Oasis, and Amalfi, Castaños said now is the best time for investors to acquire a unit. Available RFO units range from studio to a three-bedroom place.

A unit in One Oasis Cebu. (Photo: Filinvest)

A unit in One Oasis Cebu. (Photo: Filinvest)

 

View from a patio in Amalfi. (Photo: Filinvest)

View from a patio in Amalfi. (Photo: Filinvest)

 

Pool deck in Amalfi. (Photo: Filinvest)

Pool deck in Amalfi. (Photo: Filinvest)

 

A unit in Grand Cenia Residences. (Photo: Filinvest)

A unit in Grand Cenia Residences. (Photo: Filinvest)

 

San Remo Oasis at the South Road Properties. (Photo: Filinvest)

Sanremo Oasis at the South Road Properties. (Photo: Filinvest)

1 Comment on Filinvest offers ready-for-occupancy condos under easy, express move-in scheme

Type on the field below and hit Enter/Return to search