Lawyer Floro Casas Jr., Cebu City Administrator, confirmed to Cebu Daily News Digital in an interview on February 26, 2020, that the Saavedra-led firm expressed intentions to restore Compania Maritima, and improve Freedom Park, which includes parts Carbon Public Market.
The proposal is now being reviewed by the city’s Technical Working Group of the Joint Venture Committee, he said. Currently, there are at least two joint venture agreements the city government of Cebu has entered into, both of which involved multi-billion-peso projects, and now being undertaken. Compania Maritima is the name given to the shell of a three-storey structure visibly seen from the southern portions Mactan Channel, and at the southern end of the subway tunnel leading to the SRP.
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