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Saturday, August 6, 2016

What Happened to Paseo Del Rio's Mall and Hotel Project Now?

Photo credit: www.palafoxassociates.com
Paseo del Rio is a mixed-use development - consisting of a mall, convention center, a hotel building, offices and other commercial facilities located along the Cagayan de Oro River in Cagayan de Oro City, Philippines.

The Riviera Hotel is an 18-storey Waterfront Hotel, featuring an infinity pool and an upscale helipad bar. The hotel is expected to have more than 300 rooms.

Paseo Mall is a 6-storey Shopping mall with an estimated gross floor area of at least 80,000 square meters, featuring 3 modern cinemas and 3000-seating capacity Zealep Convention Center.

It has been more than a year since the development of the Paseo Del Rio has been stopped, according to some reports from our sources, the project has been temporarily stopped because of the problem of the location of the project. The area has been identified as an effective use of natural retarding basin. Retarding basin is an excavated area installed on, or adjacent to, tributaries of rivers, streams, lakes or bays to protect against flooding and, in some cases, downstream erosion by storing water for a limited period of time. This is in accordance to the 12-kilometer megadike project by the Japan International Cooperation Agency (JICA) along the CDO River.

According to Paseo del Rio Chief Executive Officer Ramid Gualberto, the area is not suitable for a catch basin because it does not have enough water storage capacity and has a steeper riverbed slope.

Until now there are no clear statement about the development of Paseo Del Rio.

Check out this awesome aerial video of the Paseo del Rio's existing project development created by Project LUPAD.




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