WHAT IS THE SRP?

It is a 300 hectare prime property development facility on

reclaimed land located a few meters off the coast of Cebu
City’s central business district. It is registered with PEZA
as a Special Economic Zone (SEZ).

Its project cost of over Y12 Billion was funded by an Official

Development Assistance (ODA) loan from the Japan Bank
for International Cooperation (JBIC). Counterpart funding
was provided by the City of Cebu which owns the Facility.

The SRP was built to complement the Cebu South Road, a

12 km 4-lane highway, a national infrastructure project
designed to facilitate traffic in the central part of the eastern
coast of Cebu island.

The SRP will be marketed as a prime mixed-land use facility.

It can accommodate investments in light manufacturing, tourism,
commercial, IT and other services.
Background of the SRP

• The SRP was completed in 2006 under the Metro Cebu

Development Project (MCDP) III through a Yen Loan from Japan
Bank for International Cooperation (JBIC) formerly known as the
Overseas Economic Cooperation Fund (OECF) amounting to ¥
12.35 Billion and from Landbank of the Philippines amounting to ¥
1.280 Billion.

• Repayment Terms: 30 years with 10 years grace period (1995-2025).

• Presidential Proclamation 763 dated January 20, 2005 declaring the SRP as
a Special Economic Zone.

• Presidential Proclamation 893 dated May 16, 2005 declaring Cebu City
Government as the owner of the SRP.

• The Cebu City Government was duly registered by PEZA last January 6,
2006 as the owner and developer of the South Road Properties (SRP).
South Road Properties
PURPOSE:
The project shall reduce the incidence of poverty and accelerate the
economic growth in Metro Cebu through the reclamation of an additional
area 300 hectares for industrial, commercial and export processing use.

SOURCES OF FUNDS:
Overseas Economic Cooperation Fund (OECF), now Japan Bank for
International Cooperation (JBIC). JBIC and JICA were merged and
surviving entity is JICA (Japan International Cooperation Agency).

LOAN AMOUNT NO.1

Japanese Yen Y 12.35 Billion (for JBIC funded)

LOAN AMOUNT NO.2

Japanese Yen Y 1.280 Billion (for LBP internal funds)
Accrued interest during the construction period.
BORROWER:
Land Bank of the Philippines

GUARANTOR:
Department of Finance (for the National Government)

JBIC Repayment Terms:

30 years with 10 years grace period (1995-2025)

SUBSIDIARY BORROWER
Cebu City Government

RELENDING TERMS (LBP to CCG)

Interest:
For civil works 4.7% p.a.
For consulting services 4.3% p.a.
Tenor:
30 years with 10 years grace period.

COLLATERAL
REM on the 300 hectares reclamation lot
MAIN FEATURES OF THE SRP

1. The entire 300 has. is registered with PEZA as a Special Economic Zone
(SEZ)
2. 3 existing entrances to the SRP, 1st is beside Aduana, the 2nd
is from Mambaling and the 3rd is from Talisay. A fourth entrance from
Pardo is currently being studied.
3. The SRP is only 5 minutes from the Central Business District and the Port
of Cebu. It is not more than 30 minutes from the International Airport
4. The SRP has its own brand-new Reverse Osmosis plant for desalinating
water. This facility can supply up to 750 cubic/mts of bottled quality water
per day and is scalable.
5. The SRP has a state of the art Sewerage Treatment Plant
that is also scalable.
6. The SRP is pure greenfield development. There is nothing
to remove or relocate.
7. Security will be a main feature of the SRP. There is an existing
perimeter fence and a security detail at the SRP.