SMX convention center to rise at SRP
CEBU, Philippines - The SM Group targets to build an SMX Convention Center in Cebu next year, which will be patterned after the one in Mall of Asia in Pasay City that comes with hotels and an indoor arena for sports, concerts and other events.
"We're hoping (the construction) could start next year but there's nothing definite yet whether it's early next year, mid or late next year," Agnes Pacis, vice president for sales and marketing of SMX, told The FREEMAN at the sidelines of the Sky Hall launching at SM Seaside City Cebu.
"It will be a stand-alone, two or three level type of convention center," she said, adding it will more likely be more than 20,000 square meters.
She noted the construction of the convention project would probably take 18 months to complete.
Pacis said it's high time to have a big convention center in Cebu, being a hub for meetings, incentives, conferencing and exhibitions (MICE) in the Visayas.
More direct international routes to Cebu would also open more opportunities for its MICE market, she said.
"The Philippines is also gaining attention from the international arena after the APEC last year and ASEAN Summit next year," she said.
Previously, Hans Sy, the immediate past president of SM Prime Holdings, said the company would build the arena and convention center in the property it will jointly develop with Ayala Land Inc.
He was referring to the 26-hectare land which the SM-ALI Group consortium (including ALI's affiliate Cebu Holdings Inc.), won in a bid by the Cebu City government in June last year for P10 billion.
Both companies are equally dividing the said property.
This lot is adjacent to the 30-hectare SM Seaside Complex, which forms part of the 300-hectare South Road Properties (SRP) in Cebu City.
Sy said the company would likely invest P3-4 billion for the arena and convention center.
Earlier, the Cebu City Council passed a resolution expressing its consent to the SM-Ayala consortium's plan to develop the 26-hectare area. (FREEMAN)
- Latest
