The master plan of the P20-billion mixed-use development project at the South Road Properties (SRP) of the SM Prime Holdings Inc. (SPHI) will be presented to the public in November, a top executive said.
SPHI president Hans Sy said the mater plan of the 30-hectare property at the SRP is already complete and they are now working on the details of the first project, the mall, which will be launched also this November.
Sy spoke to reporters at the sidelines of the soft opening Monday of Radisson Blue Hotel Cebu.
Sy said the mall, which has a gross floor area of 250,000 square meters, will be its priority project at the SRP.
He said they might even break ground a bit earlier as they will be working on the road network for the project.
Sy said the mall, although not as big as the Mall of Asia, will be “very large” and will “look totally different.”
The P20-billion project of SPHI is seen to be completed in eight years. It will have a high-rise residential project, a church, a school and a hospital, among others.
As for the plan of putting up a convention center at SRP, Sy said they will first observe how Radisson Blue fares since the hotel also has a grand ballroom that can accommodate a large number of people.
”We will observe how it works and if it is strong, then this might spur more developments in the tourism direction,” Sy said. He said Radisson Blue Hotel Cebu is their first five-star hotel venture, a market that his father, Henry Sy, wanted to venture into years ago.
Aside from hotels, Sy said the company is also aggressive in developing resort hotels, He said that they are currently developing the 5,000-hectare Hamilo Coast property in Batangas. SPHI is also the developer of Tagaytay Highlands and Taal Vista.
On top of these, Sy also reported the company’s plan to focus on developing more malls in the country and abroad.
He said the company’s plan of putting up a mall in Consolacion in northern Cebu is set to be completed before the SRP mall. The company will also be increasing its mall presence in Davao and General Santos City in Mindanao and abroad, specifically in China. (PNA)