Property giant SM Prime Holdings Inc. has received notice to proceed with its plan to reclaim 360 hectares of land in Pasay City and develop it into a vibrant central business district.
“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,” said SM Prime president Jeffrey C. Lim.
A joint venture with the Pasay City government, the project will feature offices, residences, an entertainment arena, 5-star hotel and convention center. It will be connected to the Mall of Asia complex.
SM Prime will be tasked with developing the actual raw land and undertake horizontal development works.
It 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 expect thousands of job opportunities to be generated in the process, and to also contribute significantly to both local and national development,” Lim said.
Lim said 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.