SM Prime Holdings Inc., the country’s largest integrated property developer, said it is ready to unveil in April the integrated master plan for the Pasay and Parañaque reclamation projects worth over P100 billion.
SM Prime president Hans Sy said the company would make a presentation and reveal the important components of the integrated master plan for the mixed-used community, which it earlier dubbed as the “future city.”
“It is a total development. I am really very excited about that project because it’s high time for the Philippines to have a development that is easy and convenient,” Sy said
“We assure you it’s an integrated development which includes transportation that is unlike EDSA,” he added.
After bagging the 300-hectare Pasay reclamation and the 300-hectare Parañaque reclamation projects, SM Prime last year contracted AECOM, the world’s largest engineering design company, to do an integrated master plan for the two projects.
SM Prime earlier said it decided to venture into reclamation projects because Metro Manila was already densely populated.
Both reclamation projects, however, are still up for government approvals, including the Philippine Reclamation Authority and the National Economic and Development Authority.
Meanwhile, SM said it would open up four shoppings malls in the Philippines and its biggest shopping mall in China this year.
Sy said the company would open SM San Mateo, SM Sanggandaan and the recently acquired mall SM Megacenter Cabantuan, and possibly the 430,000-square meter SM Seaside Cebu City in the South Road Properties.
“The SRP is actually a very big project. Its targeted to open by end of November. But since it’s a destination mall, I really want to do it very well,” Sy said.
SM Seaside is envisioned to be the Mall of Asia in the south.
In China, Sy said the company was still pushing for the opening of SM Tianjin, the company’s biggest shopping mall in China with a gross floor area of over 530,000 square meters.