John Gokongwei, who is not just a self-made billionaire but also a fellow Cebuano, has agreed to invest 18 Billion pesos in Isla dela Victoria, is a 80,000 square meter world-class integrated development in Cebu, Philippines that includes bars, restaurants, mall, convention center, casino, park, theatre, and no less than 3 hotels.


All of this at no cost to the City. In fact, in exchange for a 50 year lease of the land, the City will own 10% of all profits made for the entire duration. After this, when the lease expires, the Cebuanos will own not just 10%, but EVERYTHING on the property.