SM Prime launches P20B project at SRP

CEBU, Philippines - SM Prime Holdings formally launched its P20 billion integrated development project at South Road Properties (SRP), named “SM Seaside Complex.”

SM Prime Holdings president Hans Sy said the 30-hectare development will build a big shopping mall to be called “SM Seaside City Cebu” which is half of the size of the Mall of Asia (MOA) in Manila, or will cover 270 thousand square meters.

According to Sy, although the road infrastructure, the church and the mall will be simultaneously constructed, the shopping mall is expected to be completed by 2nd quarter of 2013.

The construction of the shopping mall alone, will already incur the company a total of P4.5 billion. Part of the plan is also to build residential facilities, hotel, apartments, condominiums, school and a hospital.

This project is seen to introduce another level of urban living in Cebu. “We make it sure that every time we build something, it should offer something new, and something different,” said Sy in the interview during the formal launching of the project held at the Radisson Blu Hotel Cebu.

“We have always believed in Cebu, and its people, its distinct history and culture,” he said.

After the construction of the shopping mall at the SRP, building of the hotel and residential projects will start, he said.

The mall “SM Seaside City Cebu” will be one of the first developments in the master-plan of SM Properties, which stretches from the northern part of the SRP to the sea.

Designed by Arquitectonica, an international architecture, interior design and planning firm from Miami Florida, the grand, first-of-its-kind urban development at the SRP will dramatically change the landscape of the City with its nautilus-inspired design of expanding, concentric arcs from a central multi-purpose space.

The 3rd SM shopping mall in Cebu, next to the under-construction mall in Consolacion, SM Seaside City Cebu will be a 4-level, circular-shaped, world-class retail mall with multiple anchors, including a two-story SM Department Store and SM Hypermart, a five-theater Cineplex and IMAX Theatre, an 18-lane SM Bowling and Amusement Center, and a food court flanking an ice skating rink.

In addition, the mall will have over 800 food and retail shops, including international brands.

Retail shops will occupy the outer arc of the mall on the ground floor. This area will include a furniture zone as well as a fashion boulevard to showcase the talent of Cebu’s many local designers.

The introduction of the SM Seaside City Cebu promised to revolutionize the malling experience not only in Cebu but in the whole country’s south.

An Iconic Viewing Tower will be an attraction in itself, offering sensational panoramic views of the entire city of Cebu while serving as a new landmark for the City. (FREEMAN)