MANILA — SM Prime Holdings Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, has officially received from the Pasay City the notice to proceed (NTP) for the 360-hectare reclamation project within its municipal waters.
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This new reclamation project in Pasay will be connected to the Mall of Asia (MOA) complex, which is also a reclaimed-land project of both parties, and turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel, and convention center.
As the city’s joint venture partner, SM Prime will undertake to develop the actual raw land reclamation and horizontal development works.
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The company has finalized the selection of consultants and contractors from a roster of reputable companies with proven global reclamation and dredging experience to ensure proper and responsible implementation of the project.
“We have complied with all the requirements of national agencies and secured all the required permits and clearances to enable SM Prime to commence with the reclamation project.
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We expect thousands of job opportunities to be generated in the process, and to also contribute significantly to both local and national development,” SM Prime president Jeffrey Lim said in a statement.
SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.
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(PR)
