PROPERTY developer SM Prime Holdings Inc. said it secured the go-ahead from the Pasay City government for its 360-hectare reclamation project within the municipal waters, which will effectively expand the current SM Mall of Asia (MOA) Complex.
This new reclamation project in Pasay will be connected to the current MOA complex, also a reclaimed-land project of both parties, and turned into another business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel and convention center, the company said.
As Pasay’s joint-venture partner, SM Prime will undertake to develop the actual raw land reclamation and horizontal development works, the company said.
The company has finalized 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. 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 C. Lim said.