Polling centers in Compostela Valley opened Saturday for residents to vote on whether they favor changing its name to Davao de Oro, consistent with its neighbor provinces.
In Magnaga Elementary School in Pantukan town, Compostela Valley Governor Tyrone Uy and his father, former governor Arturo Uy arrived at the polling center at 7 a.m., the earliest to vote.
"I talked to some big investors in Compostela Valley, natutuwa sila noong nalaman na ma-change ang Compostela Valley province to Davao de Oro, dahil madali na lang mabenta ang products and services, at madali na lang ma-locate ang province," Arturo Uy said.
"Compostela Valley has brought a lot of good things, but we felt that there is a need to rebrand. There’s a need na ma-affiliate tayo, at makuha natin ang pangalang Davao, because rightfully so, historically speaking, we are part of Davao region," Tyrone Uy said.
They are confident that "yes" votes will prevail because of the massive campaigns they carried out since March. Barangay officials also helped with the information drive, urging voters to participate in the plebiscite.
Most voters only spend a few minutes inside polling precincts as they will only answer "YES" or "NO" to the question stated on the ballot, “Pumapayag ka ba na palitan ang pangalan ng lalawigan ng Compostela Valley at gawing lalawigan ng Davao de Oro alinsunod sa Batas Republika bilang 11297?”
Board of Election Tellers observed fewer voters compared to regular elections. Some voters also encountered problems, such as difficulty finding their names on the voter's lists, and unexpected transfer of polling precincts.
Davao del Norte was divided in 1998, with the new province named Compostela Valley.
But 21 years later, it was proposed to be renamed to Davao de Oro because compared to other provinces in Davao region, only Compostela Valley does not have"Davao" in its name.
https://news.abs-cbn.com/news/12/07/19/plebiscite-held-to-rename-compostela-valley-to-davao-de-oro
Saturday, December 7, 2019
Boskalis acquires EUR 325 million land reclamation project in Manila Bay, Philippines
Royal Boskalis Westminster N.V. (Boskalis) has received the Provisional Letter of Acceptance for the Design and Construction contract for the Pasay Reclamation Development Project in Manila Bay, Philippines in cooperation with CHEC from China. The award was made by the publicly listed company SM Prime Holdings, Inc. (SMPHI), one of the largest property developers in Southeast Asia. The development will create a new commercial and residential area in a densely populated part of Manila. The project has an estimated value of approximately USD 720 million (EUR 650 million) of which Boskalis’ share amounts to approximately EUR 325 million.
Peter Berdowski, Boskalis CEO: “We are delighted with the award of this substantial contract from SMPHI. As Boskalis, we have a rich tradition in land reclamation and we look forward to contributing to a modest incremental growth of the Philippines and to protect part of Manila against the effects of climate change. This has always been an important region for Boskalis and through this project, we have secured utilization for the large dredging vessels for the coming years.”
The Pasay Reclamation Development Project in Manila Bay is a new and modern commercial and residential property development to be run by SMPHI. The project involves the reclamation of approximately 360 hectares through the construction of three artificial island according to international standards to ensure a safe living environment. The islands have been designed to withstand potential large earthquakes. In addition, shore protection works are designed to withstand typhoons.
For the reclamation activities Boskalis will deploy a number of trailing suction hopper dredgers over a period of two years including its mega hopper dredgers. To accelerate the soil settlement, 60,000 kilometers of vertical drains will be installed. The entire reclamation area will be compacted with vibro- and dynamic compaction to ensure soil stability. The outer perimeter of the islands will be protected with a combination of rock revetment and a concrete wave wall. Preparatory work is scheduled to commence immediately and work on site is expected to start within the first quarter of 2020. The reclamation activities are expected to be completed within three years and the total project duration including land development is five years.
Boskalis is a global dredging contractor with a rich heritage and successful track record spanning more than a century. A selection of impressive land reclamation projects include those executed in Singapore (multiple over many decades with currently the Tuas Terminal phase two and Tekong polder projects under development), South Korea (including Songdo International City), Bahrain (numerous land reclamation projects), Panama (Punta Pacifica islands), Indonesia (recent development of five islands in Makassar) and the Netherlands (current development of IJburg residential area in Amsterdam).
Visit vimeo.com/boskalis/pasay for an animation about the project activities.
https://www.globenewswire.com/news-release/2019/12/06/1957181/0/en/Boskalis-acquires-EUR-325-million-land-reclamation-project-in-Manila-Bay-Philippines.htm
Peter Berdowski, Boskalis CEO: “We are delighted with the award of this substantial contract from SMPHI. As Boskalis, we have a rich tradition in land reclamation and we look forward to contributing to a modest incremental growth of the Philippines and to protect part of Manila against the effects of climate change. This has always been an important region for Boskalis and through this project, we have secured utilization for the large dredging vessels for the coming years.”
The Pasay Reclamation Development Project in Manila Bay is a new and modern commercial and residential property development to be run by SMPHI. The project involves the reclamation of approximately 360 hectares through the construction of three artificial island according to international standards to ensure a safe living environment. The islands have been designed to withstand potential large earthquakes. In addition, shore protection works are designed to withstand typhoons.
For the reclamation activities Boskalis will deploy a number of trailing suction hopper dredgers over a period of two years including its mega hopper dredgers. To accelerate the soil settlement, 60,000 kilometers of vertical drains will be installed. The entire reclamation area will be compacted with vibro- and dynamic compaction to ensure soil stability. The outer perimeter of the islands will be protected with a combination of rock revetment and a concrete wave wall. Preparatory work is scheduled to commence immediately and work on site is expected to start within the first quarter of 2020. The reclamation activities are expected to be completed within three years and the total project duration including land development is five years.
Boskalis is a global dredging contractor with a rich heritage and successful track record spanning more than a century. A selection of impressive land reclamation projects include those executed in Singapore (multiple over many decades with currently the Tuas Terminal phase two and Tekong polder projects under development), South Korea (including Songdo International City), Bahrain (numerous land reclamation projects), Panama (Punta Pacifica islands), Indonesia (recent development of five islands in Makassar) and the Netherlands (current development of IJburg residential area in Amsterdam).
Visit vimeo.com/boskalis/pasay for an animation about the project activities.
https://www.globenewswire.com/news-release/2019/12/06/1957181/0/en/Boskalis-acquires-EUR-325-million-land-reclamation-project-in-Manila-Bay-Philippines.htm
Duterte threatens to shut down Philippine broadcaster ABS-CBN
Philippine President Rodrigo Duterte and his government should not show bias in renewing broadcasters' licenses and should cease threatening the press, the Committee to Protect Journalists said on Thursday.
On December 3, Duterte threatened ABS-CBN, a privately owned news network whose franchise agreement is due to expire on March 30, 2020, saying, “Your franchise will end next year. If you expect it to be renewed, I'm sorry. I will see to it that you're out," according to a report by Philippine news website Rappler.
Five bills have been filed with the country's legislature to extend the broadcaster's franchise, according to a report by CNN, but lawmakers said today that they will not vote on the measure until next year, according to local daily BusinessMirror.
Previously, Duterte accused ABS-CBN of “swindling" him for not airing his paid political advertisements during the 2016 presidential campaign, and in 2018 he threatened to deny the network's renewal as he approved the franchise renewal of the GMA Network, its rival, according to Rappler.
If the franchise agreement is not renewed, ABS-CBN's television and radio channels will have to cease broadcasting, according to Rappler.
“Philippine President Rodrigo Duterte should walk back his politicized threat to shut down news broadcaster ABS-CBN, and should steer clear of intervening in its franchise renewal," said Shawn Crispin, CPJ's senior Southeast Asia representative. “Duterte's threats aim to encourage self-censorship, and must stop now."
ABS-CBN's current franchise agreement was enacted in 1995; if renewed, it would be valid for another 25 years, according to BusinessMirror.
ABS-CBN has published critical reports on Duterte's war on drugs campaign, domestic terrorism, and other sensitive topics.
CPJ called the Presidential Spokesman's Office for comment on Duterte's remarks, but no one answered.
Duterte's government has previously used its regulatory powers to stifle media; in January 2018, the Duterte administration's Securities and Exchange Commission revoked Rappler's certificate of incorporation for violating a regulation that local media must be locally owned and operated, as CPJ reported at the time. This March, authorities arrested and briefly detained Rappler CEO Maria Ressa for allegedly violating that regulation, according to news reports.
Ressa received CPJ's 2018 Gwen Ifill Press Freedom Award in acknowledgement of her bravery in reporting in the face of official harassment.
https://www.brecorder.com/2019/12/07/551111/duterte-threatens-to-shut-down-philippine-broadcaster-abs-cbn/
On December 3, Duterte threatened ABS-CBN, a privately owned news network whose franchise agreement is due to expire on March 30, 2020, saying, “Your franchise will end next year. If you expect it to be renewed, I'm sorry. I will see to it that you're out," according to a report by Philippine news website Rappler.
Five bills have been filed with the country's legislature to extend the broadcaster's franchise, according to a report by CNN, but lawmakers said today that they will not vote on the measure until next year, according to local daily BusinessMirror.
Previously, Duterte accused ABS-CBN of “swindling" him for not airing his paid political advertisements during the 2016 presidential campaign, and in 2018 he threatened to deny the network's renewal as he approved the franchise renewal of the GMA Network, its rival, according to Rappler.
If the franchise agreement is not renewed, ABS-CBN's television and radio channels will have to cease broadcasting, according to Rappler.
“Philippine President Rodrigo Duterte should walk back his politicized threat to shut down news broadcaster ABS-CBN, and should steer clear of intervening in its franchise renewal," said Shawn Crispin, CPJ's senior Southeast Asia representative. “Duterte's threats aim to encourage self-censorship, and must stop now."
ABS-CBN's current franchise agreement was enacted in 1995; if renewed, it would be valid for another 25 years, according to BusinessMirror.
ABS-CBN has published critical reports on Duterte's war on drugs campaign, domestic terrorism, and other sensitive topics.
CPJ called the Presidential Spokesman's Office for comment on Duterte's remarks, but no one answered.
Duterte's government has previously used its regulatory powers to stifle media; in January 2018, the Duterte administration's Securities and Exchange Commission revoked Rappler's certificate of incorporation for violating a regulation that local media must be locally owned and operated, as CPJ reported at the time. This March, authorities arrested and briefly detained Rappler CEO Maria Ressa for allegedly violating that regulation, according to news reports.
Ressa received CPJ's 2018 Gwen Ifill Press Freedom Award in acknowledgement of her bravery in reporting in the face of official harassment.
https://www.brecorder.com/2019/12/07/551111/duterte-threatens-to-shut-down-philippine-broadcaster-abs-cbn/
TIMOW’S TURF HOLIDAY INSIGHT ROUNDUP 2019-2020
LAST CHRISTMAS… I gave you my heart… but the very next day… you gave it away…
INDEED, this is the last Christmas of the 2010s but for some ill-wishers, it could be the last Christmas for a notorious major TV network.
Whatever you perceive, our Yuletide tradition continues and you already know why it’s up. For those who are new or don’t understand this quirky culture, we are telling up what will happen throughout the season in Philippine (free-to-air) television.
This annual post will take place of the weekly media roundup. The scope will last from today (December 7, 2019) to January 8, 2020. (Don’t worry, this will be updated throughout the period.)
News
Major political events that we expect throughout the season:
Entertainment
Specific Entertainment News
New Sunday Horror Series
INDEED, this is the last Christmas of the 2010s but for some ill-wishers, it could be the last Christmas for a notorious major TV network.
Whatever you perceive, our Yuletide tradition continues and you already know why it’s up. For those who are new or don’t understand this quirky culture, we are telling up what will happen throughout the season in Philippine (free-to-air) television.
This annual post will take place of the weekly media roundup. The scope will last from today (December 7, 2019) to January 8, 2020. (Don’t worry, this will be updated throughout the period.)
News
Major political events that we expect throughout the season:
- A joint session of Congress must be convened if Martial Law in Mindanao will be revoked or be extended.
- On December 19, the case of the Maguindanao massacre that happened 10 years ago will be handed down.
- December 21 is Armed Forces Day. Being on a Saturday this year, the ceremony will be celebrated the preceding day. Under normal circumstances, the President leads the ceremony in Camp Aguinaldo but it can be held at his option as PTV is always ready.
- Rizal Day (Monday, December 30) is another holiday that the President usually expects to show up at Rizal Park. No matter who will lead the rites, this will be the first time to be held under the local administration of Manila Mayor Isko Moreno.
Entertainment
Specific Entertainment News
New Sunday Horror Series
On December 8, The Haunted will replace Parasite Island (starring Jake Cuenca, Denise Laurel and Shaina Magdayao) as the weekly horrorserye on ABS-CBN.
Battle of E-Commerce: Year-End Sale Edition
Last November 10, the countdown to the 11.11 sale of Lazada and Shopee happened live on the South Triangle networks. This time, it is on the 12.12 sale, Eat Bulaga! promoted ahead of time. In the natural spirit of competition, the rival, It’s Showtime!, should do likewise.
The End of Sunday PinaSaya
After more than four years, musical-comedy noontime variety show Sunday PinaSaya will bow out on December 22.
While lamentation is expected in the eyes of loyal viewers and eventual victory for ASAP on the other side of the fence, the real reason behind the pull is their non-renewal of the contract with APT Entertainment as the producer forged with an exclusive partnership with Cignal to form Buhay Komedya (BuKo) channel that will be launched in February next year.
Its replacement, All Out Sunday, will premiere on the first Sunday of the new decade (January 5, 2020).
Annual Traditions
- DECEMBER 14: The main competition of the Giant Lantern Festival in the City of San Fernando, Pampanga will be carried live on CLTV 36.
- During Christmas’ and New Year’s Eve, the Philippine Charity Sweepstakes Office (PCSO) will conduct its Lotto Draw in the afternoon instead of the evening to accommodate their employees to prepare their respective festive meals; there are no selling of ticket and drawing numbers the following day. Unlike last year, there will be no Mini-Sweepstakes.
- A taped Christmas special that is exclusive to their networks.
Last 2 of the Big 4 Beauty Pageants
Under usual circumstances, Miss Universe is the last to be crowned among the Big 4 international pageants but this year, it will be ahead of Miss World.
Gazini Ganados will compete with 92 other entrants in Atlanta, Georgia, the USA on December 9 (Philippine time) for the former pageant in finding Catriona Gray’s successor. The coronation will be carried live on ABS-CBN.
Meanwhile, Michelle Dee (the daughter of Melanie Marquez) will challenge the other 112 in London on December 14 (telecast is delayed on GMA, provisionally on Sunday morning) for the latter.
Will our crowning streak continue to its lucky 7th year or will it come to an end?
Metro Manila Film Festival
The 45th Metro Manila Film Festival (MMFF) will mark the conclusion of this Centennial Year of Philippine Cinema. While the selections are met unsurprisingly with mixed reactions, the dates of two events related to this annual affair are confirmed:
- December 22: Parade of Stars in Taguig City
- December 27: Awards Night (venue: TBA)
The broadcasting channel is awaiting confirmation. In case you don’t know: last year, Kapamilya Box Office (which is exclusive to TVplus) carried both events live.
Final Days of the Decade
Expect It’s Showtime and Eat Bulaga! to reminisce the best of the year from December 26 until 31 as long both variety shows must be live by New Year’s Day.
The same shall be treated for public affairs programs and Sunday magazine shows.
The Last Day of the 2010s
While revelry will fill the air on New Decade’s Eve, three TV networks are certain in covering the turnover of the old to the new:
- ABS-CBN will have a simple Salubong 2020.
- CNN Philippines will cover a few minutes each hour on the transition of the year east of the country — starting from New Zealand.
- For GMA, the star-studded New Year Countdown — in its 17th edition — will party in SM Mall of Asia for the 13th time.
Religious
Traditional observers tend to celebrate the holidays through this genre. In chronological order:
- Simbang Gabi masses. This is ABS-CBN’s tradition that is broadcast on the Chapel of the Annunciation. Meanwhile, SVD-MCFI’s iteration is usually on S+A but it is unclear if they are airing this year, given that the regular Family TV Mass is on 5Plus.
- Midnight Mass. The televised liturgy in Mother Ignacia stays right after Bandila on the Christmas Eve broadcast day schedule. The one from inside St. Peter’s Basilica in Vatican City that happens a few hours later is reserved for the news channels.
- Urbi et Orbi (7:00 p.m.) The news channels are likely to cover the Message and Apostolic Blessing from the central loggia (balcony) of St. Peter’s Basilica in full since newscasts are ongoing.
- New Year’s Day Masses. This will be conducted immediately for ABS-CBN after the countdown and the 5 Network will do likewise from Tierra de Maria in Tagaytay by morning.
Sports
- DECEMBER 8: The PBA Draft takes place in Robinson’s Place Manila in Ermita and is usually carried live on 5. However, there will be conflict in broadcasting due to running prioritized events in the Southeast Asian Games.
- DECEMBER 11: The closing ceremony of the 30th SEA Games will take place in New Clark City Athletics Stadium, Capas, Tarlac.
- DECEMBER 26: It’s the NBA Christmas Day games. Falling on a Thursday, it is not possible for CNN Philippines (the temporary holder of the regular, selected weekend games) to broadcast.
- JANUARY 2: Rose Bowl in Pasadena, California. As it marks the end of the o-BER-loaded campaign for 5, this will be uncertain if this will be carried on the main network or on 5Plus.
SM Prime granted approval for Pasay reclamation project
SM Prime Holdings Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, has officially received from the Pasay City the notice to proceed (NTP) for the 360-hectare reclamation project within its municipal waters.
This new reclamation project in Pasay will be connected to the Mall of Asia (MOA) complex, which is also a reclaimed-land project of both parties, and turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel, and convention center.
As the city’s joint venture partner, SM Prime will undertake to develop the actual raw land reclamation and horizontal development works.
The company 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 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 Lim said in a statement.
https://businessmirror.com.ph/2019/12/06/sm-prime-granted-approval-for-pasay-reclamation-project/
This new reclamation project in Pasay will be connected to the Mall of Asia (MOA) complex, which is also a reclaimed-land project of both parties, and turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel, and convention center.
As the city’s joint venture partner, SM Prime will undertake to develop the actual raw land reclamation and horizontal development works.
The company 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 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 Lim said in a statement.
https://businessmirror.com.ph/2019/12/06/sm-prime-granted-approval-for-pasay-reclamation-project/
Pasay-SM Prime Manila Bay reclamation project set to proceed
SM Prime Holdings, Inc. has received the official notice from the Pasay City government to proceed with its 360-hectare reclamation project within the city’s municipal waters, the Sy-led listed company said in a disclosure on Friday.
“This new reclamation project in Pasay City will be connected to the Mall of Asia (MOA) Complex, which is also a reclaimed-land project of both parties, and turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, 5-star hotel and convention center,” the company told the stock exchange.
SM Prime, which described itself as one of the largest integrated property developers in Southeast Asia, said it would develop the raw land reclamation and horizontal development works as Pasay City’s joint venture partner.
In a statement, SM Prime President Jeffrey C. Lim said: “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.”
On Friday, shares in the company rose by two percent to close at P40.80 each.
“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,” the company said.
SM Prime, which ended last year with 74 malls in the Philippines and seven shopping malls in China, earlier reported an 18% growth in consolidated net income to P27.6 billion as of the third quarter. Its consolidated revenues during the nine-month period rose by 14% to P85.03 billion, while consolidated operating income grew by 17% to P41 billion.
Mr. Lim earlier said SM Prime’s recent developments and expansion programs in “progressive cities” in the country had contributed significantly to the company’s strong performance as of September.
“Our core businesses, led by the malls and residential segments, are set to sustain the strong performance as we approach the fourth quarter of the year,” he had said. — Victor V. Saulon
https://www.bworldonline.com/pasay-sm-prime-manila-bay-reclamation-project-set-to-proceed/
“This new reclamation project in Pasay City will be connected to the Mall of Asia (MOA) Complex, which is also a reclaimed-land project of both parties, and turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, 5-star hotel and convention center,” the company told the stock exchange.
SM Prime, which described itself as one of the largest integrated property developers in Southeast Asia, said it would develop the raw land reclamation and horizontal development works as Pasay City’s joint venture partner.
In a statement, SM Prime President Jeffrey C. Lim said: “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.”
On Friday, shares in the company rose by two percent to close at P40.80 each.
“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,” the company said.
SM Prime, which ended last year with 74 malls in the Philippines and seven shopping malls in China, earlier reported an 18% growth in consolidated net income to P27.6 billion as of the third quarter. Its consolidated revenues during the nine-month period rose by 14% to P85.03 billion, while consolidated operating income grew by 17% to P41 billion.
Mr. Lim earlier said SM Prime’s recent developments and expansion programs in “progressive cities” in the country had contributed significantly to the company’s strong performance as of September.
“Our core businesses, led by the malls and residential segments, are set to sustain the strong performance as we approach the fourth quarter of the year,” he had said. — Victor V. Saulon
https://www.bworldonline.com/pasay-sm-prime-manila-bay-reclamation-project-set-to-proceed/
SM Prime wins Pasay reclamation contract
SM Prime Holdings Inc., one of the biggest integrated property developers in Southeast Asia, officially bagged the 360-hectare Pasay reclamation project.
SM Prime said in a disclosure to the stock exchange Friday it received from Pasay City a notice to proceed with the proposed reclamation project within the city’s municipal waters.
“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,” said SM Prime president Jeffrey Lim.
The planned reclamation project in Pasay City will be connected to the Mall of Asia Complex, which is also a project of both parties and has turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, 5-star hotel and convention center.
As the Pasay City’s joint venture partner, SM Prime will develop the actual raw land reclamation and do horizontal development works. The company 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.
SM Prime in 2014 bagged the 300- hectare Pasay reclamation project. It committed at that time to spend a little over P50 billion for the project.
Aside from the Pasay reclamation, SM Prime also has a pending 300-hectare Parañaque reclamation project worth over P50 billion.
The property firm had contracted AECOM, the world’s largest engineering design firm, to do an integrated master plan on the two projects.
SM Prime reported a nine-month net income of P27.60 billion in the first nine months of the year, up 18 percent from P23.44 billion year-on-yer.
Nine-month consolidated revenues rose 14 percent to P85.03 billion from P74.56 billion a year ago.
Consolidated operating income rose 17 percent to P41.00 billion from P34.91 billion on year.
Share price of SM Prime on Friday rose two percent to P40.80.
http://manilastandard.net/business/corporate/311906/sm-prime-wins-pasay-reclamation-contract.html
SM Prime said in a disclosure to the stock exchange Friday it received from Pasay City a notice to proceed with the proposed reclamation project within the city’s municipal waters.
“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,” said SM Prime president Jeffrey Lim.
The planned reclamation project in Pasay City will be connected to the Mall of Asia Complex, which is also a project of both parties and has turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, 5-star hotel and convention center.
As the Pasay City’s joint venture partner, SM Prime will develop the actual raw land reclamation and do horizontal development works. The company 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.
SM Prime in 2014 bagged the 300- hectare Pasay reclamation project. It committed at that time to spend a little over P50 billion for the project.
Aside from the Pasay reclamation, SM Prime also has a pending 300-hectare Parañaque reclamation project worth over P50 billion.
The property firm had contracted AECOM, the world’s largest engineering design firm, to do an integrated master plan on the two projects.
SM Prime reported a nine-month net income of P27.60 billion in the first nine months of the year, up 18 percent from P23.44 billion year-on-yer.
Nine-month consolidated revenues rose 14 percent to P85.03 billion from P74.56 billion a year ago.
Consolidated operating income rose 17 percent to P41.00 billion from P34.91 billion on year.
Share price of SM Prime on Friday rose two percent to P40.80.
http://manilastandard.net/business/corporate/311906/sm-prime-wins-pasay-reclamation-contract.html
SM Prime gets go-signal to start 360-ha Pasay reclamation project
The Sy family’s SM Prime Holdings Inc. has officially received from the city of Pasay a notice to proceed (NTP) with its 360-hectare reclamation project within the city.
SM Prime, one of the largest integrated property developers in the country, is the proponent of the project.
Under the plan, the new reclamation project will be connected to the Mall of Asia (MOA) complex, which is also a reclaimed-land project of both parties that was turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel, and convention center.
SM Prime, as the joint venture partner of the government of Pasay will undertake to develop the actual raw land reclamation and horizontal development works.
The company 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, SM Prime president Jeffrey C. Lim said.
“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,” he said.
The project is estimated to have a development cost of P100 billion.
The property spans the cities of Pasay and Parañaque as part of the continuing development of the area near Manila Bay, which is now considered as the next big thing in Metro Manila.
It is envisioned to be complete with everything a city should have.
The SM Group has earlier contracted New-York listed firm Aecom Technology Corp., one of the world’s largest engineering companies, for the project’s master planning.
Land reclamation is expected to take three to five years, proponents said.
Construction of the 100-hectare MOA complex started in the early 1990s, but the mall opened only in 2006. The mall itself is considered among the biggest malls in the world.
https://www.philstar.com/business/2019/12/07/1974867/sm-prime-gets-go-signal-start-360-ha-pasay-reclamation-project
SM Prime, one of the largest integrated property developers in the country, is the proponent of the project.
Under the plan, the new reclamation project will be connected to the Mall of Asia (MOA) complex, which is also a reclaimed-land project of both parties that was turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel, and convention center.
SM Prime, as the joint venture partner of the government of Pasay will undertake to develop the actual raw land reclamation and horizontal development works.
The company 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, SM Prime president Jeffrey C. Lim said.
“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,” he said.
The project is estimated to have a development cost of P100 billion.
The property spans the cities of Pasay and Parañaque as part of the continuing development of the area near Manila Bay, which is now considered as the next big thing in Metro Manila.
It is envisioned to be complete with everything a city should have.
The SM Group has earlier contracted New-York listed firm Aecom Technology Corp., one of the world’s largest engineering companies, for the project’s master planning.
Land reclamation is expected to take three to five years, proponents said.
Construction of the 100-hectare MOA complex started in the early 1990s, but the mall opened only in 2006. The mall itself is considered among the biggest malls in the world.
https://www.philstar.com/business/2019/12/07/1974867/sm-prime-gets-go-signal-start-360-ha-pasay-reclamation-project
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