Friday 16 November
Powered by Ajaxy
Jul 10, 2018 @ 23:41

SM keen on investing in Sky City in Samar

 

SM group is planning to invest in the 440-hectare Sky City Mega Project in Catbalogan City, Samar.

Catbalogan Mayor Stephany Uy-Tan revealed SM Prime Holdings, Inc. would build a mall within an eight-hectare property in the ambitious project by 202.

“After opening a store in Primark Town Center in Catbalogan market, they will build a mall in Sky City.”

Primark, owned by LKY Group of Companies, has started its town center project at the city market. The company’s key tenants are SM-affiliate businesses such as SM Savemore for basic commodities, Ace Hardware for home and office needs, SM Appliance, BDO or China Bank for banking transactions.

“We have not shared new updates about the mega project in the past few months because of a lot of criticisms, but we want to assure people in Catbalogan that the project will be pushed through,” she said.

Uy-Tan said Sky City would be the new home of several government offices, mall zones with parking space, health and wellness center, hotels and resorts, information technology hubs, housing projects, educational and training hubs, multi-purpose complex, and a 25-hectare flood-proof dam that will serve as a water catchment to eliminate flooding in the downtown area.

She said investors have committed to develop about 15 hectares of the mega project, including the 1.6 hectares land meant for the construction of the new city hall.

“We still have to finalize the plan for the city hall after the owner formally donated the lot to the city government. We will look at how other local government units built their climate resilient buildings,” Uy-Tan said.

In a video message, Oriental Hotels and Resorts President Rebecca Marie Abigail G. Lee said they plan to build a hotel within a 2.2 hectares lot in the city’s upland area.

“Catbalogan is the gateway to Samar and all people who go to Samar pass by Catbalogan. We want people to stay here and we want to provide a place for them to stay. We want the city to be a convention capital for Samar,” Lee said. (PNA)

Please follow and like us:

Tags: , , ,

Related Stories
SM Prime Holdings Inc.’s decision not to sign up offshore gaming operator tenants in its
Bilyonaryo Henry Sy’s SM Investments Corp. (SMIC) has made it to Forbes' list of the
Integrated property giant SM Prime Holdings Inc. grew its net income by 17 percent to
SM Prime Holdings Inc. has managed to further grow its office portfolio despite not taking


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.