THE Mandaue City government has successfully ratified its multi-billion loan agreement with the Development Bank of the Philippines to finance the construction of its new government center.City Treasurer, lawyer Regal Oliva, told reporters during a press conference at a hotel in Mandaue City on Tuesday, June 25, 2024, that the City instructed the DBP to prepare an additional P500 million, aside from the already approved P3 billion loan.
Calipayan said the expenses for the new City Hall encompass various aspects, such as the overall size, complexity, choice of materials, implemented technologies, and certification standards.The entire project will cover an estimated total gross floor area of 43,531 square meters. He said the project is set to transform the city’s administrative landscape, and underscores the city’s fiscal confidence and strategic vision for development.