Cebu convention center sold for P300 M
MANILA, Philippines - A contract to sell the Cebu International Convention Center (CICC) to the Mandaue City government for P300 million was signed yesterday.
Under the contract, the Mandaue city government will pay an initial P200 million this year and P100 million in June next year.
Mandaue Mayor Luigi Quisumbing, Vice Mayor Carlo Fortuna, Gov. Hilario Davide III and Vice Gov. Agnes Magpale signed the contract. City councilors and provincial board members witnessed the signing.
Davide said a portion of the proceeds from the sale of the CICC would be used to upgrade the Carcar City Provincial Hospital.
Quisumbing said they would develop the property not only to come up with a centerpiece convention center, but also provide employment and business opportunities in the area.
The CICC was among the venues of the meetings during the Association of Southeast Asian Nations summit in 2007. It was damaged by Super Typhoon Yolanda and a magnitude 7.2 earthquake in 2013.
The building is being used as a storage facility for donations and temporary relocation site for families who lost their homes in a fire in March 2016. – Lorraine Mitzi Ambrad/ The Freeman
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