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  • Other Urban Centers

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BACOLOD: City takes back port from developer

Citing the various violations committed by developer Bacolod Real Estate Development Corp. (BREDCO), Bacolod Mayor Evelio R. Leonardia approved an ordinance mandating the city government to take over the port operations and the development of the 61-hectare property on the Bacolod reclamation area.
But the property developer has not yet lost. Mr. Leonardia said the city […]

By admin

Citing the various violations committed by developer Bacolod Real Estate Development Corp. (BREDCO), Bacolod Mayor Evelio R. Leonardia approved an ordinance mandating the city government to take over the port operations and the development of the 61-hectare property on the Bacolod reclamation area.

But the property developer has not yet lost. Mr. Leonardia said the city government “would still welcome any move by BREDCO to go back to the bargaining table with us.”

City Ordinance No. 454 also allows the developer to retain its 70% share of the 180-hectare reclamation project “as compensation” for the works done on the property.

In response to the takeover notice, BREDCO President Simplicio Palanca filed on Wednesday a civil case asking the court to nullify the ordinance and award his company the ownership and perpetual possession of the port.

Read the rest of the story from BusinessWorld Online

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