Filinvest: 2 condo projects at SRP still a go
THE two condominium projects of Filinvest Land Inc. at the South Road Property (SRP) will continue.
Filinvest in a statement yesterday assured that Amalfi Oasis and Sanremo Oasis weren’t covered by the lots which were being auctioned off for payment to tthe heirs of Rev. Fr. Vicente Rallos whose lot was expropriated by the Cebu City government for a road in 1963.
“Filinvest further assured its stakeholders and clients that development of the projects Amalfi Oasis and Sanremo Oasis, is in full swing and that these projects are not part of any auction,” Filinvest said.
The land developer, however, did not clarify whether or not the auctioned lot is part of the P25-billion joint venture (JV) agreement of Cebu City and Filinvest.
Filinvest said real properties of the city should not be used to pay the Ralloses.
“The court decision does not require the city to pay the Ralloses with real property nor does it directly enjoin the Filinvest SRP JV area,” the statement said.
“If Cebu City decides to pay the claim, it can do so with money, not real property,” it added.
Filinvest said the city, as the debtor, could direct or choose which properties would be used to pay its obligation.
“The Ralloses as the creditor do not have the right to choose (which lot to be auctioned),” it said.
Filinvest said its asserts its right to take legal actions “to recoup from the Ralloses whatever damages their (Ralloses) press release and actions will cause Filinvest and its projects.”
Around 9.7 hectares of the South Reclamation Project (SRP) is up for grabs.
The lot for sale is part of the JV agreement of Cebu City and Filinvest Land Inc., said sheriff Eugenio Fuentes. Reporter ADOR VINCENT S. MAYOL
