GOTIANUN-LED property firm Filinvest Land Inc. (FLI) has rescinded its purchase of a 19.2-hectare property in the 300-hectare South Road Properties (SRP) in Cebu City which it won through a public bidding in June 2015.

Filinvest said the city government of Cebu failed to comply with several conditions that it was required to fulfill more than a year ago, despite ample extensions given.

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