Supreme Court Affirms Joint Venture Agreement Legality
The Supreme Court has affirmed the legality and enforceability of the joint venture agreement between GlobalCity Mandaue Corporation (GMC), led by former representative Michael “Mikee” Romero, and the Mandaue City government. This ruling clears the way for the long-delayed 131-hectare reclamation and urban development project in Cebu, a key step toward regional growth.
Supporting earlier decisions from the Pasig Regional Trial Court and the Court of Appeals, the Supreme Court directed both parties to honor the terms of the contractual joint venture agreement (CJVA) signed on January 7, 2014. This verdict reinforces the binding nature of the CJVA and urges all involved to proceed without further delays.
GlobalCity Mandaue Project: A Vision for Urban Transformation
The GlobalCity Mandaue Project is one of the most ambitious reclamation initiatives in the Visayas. It plans to transform 131 hectares along the Mactan Channel—near the Marcelo Fernan Bridge and the coasts of Barangays Paknaan and Umapad—into a vibrant mixed-use estate. The development will feature commercial hubs, residential areas, industrial parks, and tourism facilities, all designed to stimulate economic growth and elevate the region’s competitiveness.
Originally signed between the Mandaue city government and Sultan 900 Inc., Romero’s business group, the agreement was later implemented by GMC. After initial mobilization in 2016, which included deploying equipment and personnel, the project stalled. The hold-up stemmed from the city government’s failure to secure essential environmental and regulatory permits, sparking a nearly decade-long legal battle.
Legal Victory Signals Boost for Public-Private Partnerships
The Supreme Court’s decision marks a significant win for infrastructure development driven by public-private partnerships. It compels both parties to fulfill their contractual obligations and resume the project’s progress immediately. Local leaders noted this as a vital step toward sustainable urban development and economic revitalization in Central Visayas.
Atty. Hans Santos, legal counsel for GMC, expressed optimism: “We welcome the Supreme Court’s affirmation of our agreement. GMC is ready to resume work with the City Government of Mandaue and relevant agencies to bring this transformative project to life.”
He added, “This decision clears the path for sustainable urban growth, job creation, and enhanced economic competitiveness—not just for Mandaue City, but for the entire Central Visayas region. We are committed to delivering a world-class development that uplifts communities and drives national progress.”
Looking Ahead: A New Era for Cebu’s Development
With the highest court in the country providing final clarity, the GlobalCity Mandaue Project is poised to move forward. Stakeholders anticipate this development will usher in a new era of infrastructure investment and inclusive growth for the Cebu metropolitan area. The project promises to create jobs, improve quality of life, and strengthen the local economy.
Sources said the ruling could inspire confidence in future public-private initiatives across the nation, highlighting the importance of honoring agreements to achieve long-term development goals.
For more news and updates on GlobalCity Mandaue Project, visit Filipinokami.com.
