Another SM Mall in Cebu City
SM Prime Holdings Inc. (SM Prime) has earmarked some P800 million for the construction of its second mall in Cebu to be located in the bustling northern town of Consolacion.
SM Prime president Hans Sy said the company has signed a long-term lease with Everjust Realty Development Corp. for a 46,926-square-meter lot in Barangay Lamac, Consolacion, Cebu.
Sy said the upscale mall, expected to be finished by 2011, will have a supermarket, department store and a variety of shops.
He said the signing of the lease contract is one of the first significant steps that SM Prime is taking towards completing its second mall in Cebu, which will break ground before the end of this year.
”The company considers Cebu as an ideal site for further expansion of SM malls, given its strategic role in the Visayas region and its strong export quality capability. It is also an ideal tourism destination and a take-off point for island-hopping by ferry to other destinations,” Sy said in his disclosure to the Philippine Stock Exchange.
Sy, in his recent visit to Cebu, told reporters that the project will be a two-storey mall with a total area of 53,000 sq. m. and leasable space of 40,000 square meters.
Sy said they are now finalizing the architectural plan of the project, which will bear a new look based on “a new image for SM.”
”It will be an upscale concept but for the open market,” Sy said.
He said the Consolacion project signifies their confidence in Cebu.
“My only regret is that I should have done this project much earlier,” he said.
After SM Consolacion, the company will focus on their mall project at the South Road Properties in 2012.
“It is good to open one in every year,” he said, adding that they might accelerate more mall projects in Cebu in the coming years.
For the rest of 2010, SM Prime will also be opening SM City Calamba and SM City Novaliches in Quezon City. The company is also set to open its fourth SM mall in mainland China, located in Suzhou City.
The company is expected to have 40 malls in the Philippines with a total gross floor area of 4.8 million sq. m. by the end of the year. (PNA)
Incoming search terms:
- EVERJUST REALTY DEVELOPMENT CORP
- SM mall cebu construction
- Powered by Article Dashboard rice school of architecture
- Everjust Realty Cebu
- SM consolasion
- everjust realty corporation
- result of 2013 election in cebu city
- sm consolacion update
- Powered by Article Dashboard mainland regional
- images sm city consolacion cebu philippines
- SM Consolacion Cebu Phil
- sm consolacion cebu job hiring
- sm cebu under construction
- SM cebu construction update 2/20/2012
- sm cebu 4th mall 2012
- list of incoming projects 2012 at cebu city phils
- sm consolacion cebu update
- sm consolacion in cebu city
- sm consolacion job hiring
- status of construction industry in cebu
- SM Malls that are coming to cebu
- SM MALLS INCOMING 2012
- sm mall in cebu city
- sm mall cebu
- SM department store cebu jobhiring
- SM construction in cebu city
- sm consolasion 2012
- www hansgunstore com ph
- new sm mall in cebu image
- new sm mall construction in cebu city
- Everjust Realty Corp
- Everjust Realty
- elction results 2013 of consolacion cebu
- construction of sm malls in cebu city
- CONSOLASION SM FINISH 2012
- consolasion als com 2013
- consolacion cebu als testing center result
- cebulatest business construction project
- cebu new sm mall
- cebu city mall
- everjust realty development
- hanns gustore in cebu
- new incoming project in Quezon City
- consolasion cebu city
- latest update on sm consolacion cebu 2012
- latest update of sm cebu
- latest update for sm consolacion
- LATEST MALL IN CEBU
- jobhiring in butuan city 2013
- HNAS GUNSTORE