January 15, 2010 | By admin | CEBU. Biggest mall in Visayas and Mindanao and a two-hectare convention center will be among the features of a mixed-use development project of SM Prime Holdings, Inc. at the South Road Properties. (SM Prime Holdings Perspective)
SM seals SRP stake
CEBU City Hall earned its first billion from the South Road Properties (SRP) yesterday after it closed the sale of a 30-hectare lot to SM Prime Holdings Inc. worth P2.7 billion, three years after the negotiations started.
By 2012, the SRP will be home to the biggest shopping mall in the Visayas and Mindanao with a gross floor area of 25 hectares, SM Prime Holdings President Hans T. Sy said yesterday.
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SM Prime will invest at least P20 billion for a mixed-use development project facing the sea, which will include a convention center, hotels, residential condominiums, a school and a hospital. READ MORE CLICK HERE
fter SM sale, City Hall to double prices of SRP lots
AS a result of the sale of lots to SM Prime Holdings Inc., the Cebu City Government will increase by 100 percent the selling price of the remaining South Road Properties (SRP) lots, which may take effect this month.
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