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SM Prime Holdings Inc., one of Southeast Asia’s largest integrated property developers, may begin the horizontal development of its 360-hectare Integrated Property Development in Manila Bay as early as the start of next year.
According to SM Prime President and CEO Jeffrey C. Lim they will complete the reclamation or sand filling by the end on this year and can start horizontal development immediately after that even before they hand over the full project to the national government and Pasay City before the end of 2028.
“The developments and the plans are in parallel because we are now working on the final masterplan. So the end result is to execute that program, that plan. So, if we are able to complete all of this before the end of the year then we may need to start doing some of the activities for the master plan starting next year even if the project is not completed or turned over yet,” he explained.
Lim added that, “The master plan is expected to be finalized in the first half of 2025, while we continue processing the necessary documents for land titling.”
SM Prime is strengthening its commitment to the Philippines’ future with its major investment in the Integrated Property Development (IPD) adjacent to the Mall of Asia Complex in Pasay City.
Designed for connectivity, convenience and climate resilience, this large-scale project will bring together residential, commercial, leisure, civic and green spaces in a fully integrated urban center.
“This IPD will position the Philippines as a prime investment destination, demonstrating our commitment to innovation and sustainable urbanization. Once completed, it will contribute to job generation, economic expansion, community development and nation building,” said SM Investments Corporation President and CEO Frederic DyBuncio.
SMIC and SM Prime Chairman Henry Sy Jr. said the the company will now prioritize integrated property developments (IPDs) in key locations across the Philippines.
“Each IPD will be masterfully designed to become a hub for commerce, leisure, tourism and community engagement, stimulating regional economies, creating jobs and unlocking new opportunities,” said Sy.
