MANILA, Philippines – SM Prime Holdings, owned by the family of the Philippines’ richest man Henry Sy, has once again bagged a major reclamation project.
SM Prime has been awarded the P138 billion reclamation project in Cordova, Cebu. This is the company’s third reclamation project, after separate 300-hectare reclamation projects in Pasay and Paranaque.
“Yes, the project has been officially awarded to the SM Prime Holdings Inc. We already signed the joint venture agreement with Cordova,” SM Prime executive vice president Jeffrey Lim said.
The project involves reclamation of 1,500 hectares of land in Cordova.
However, the project still needs approvals from the Philippine Reclamation Authority and the National Economic and Development Authority.
SM Prime is building the SM Seaside mall, envisioned as the south’s Mall of Asia, in South Road Properties in Cebu.
Source: ABS-CBNnews.com
