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SM hikes investment in new mall

SM hikes investment in new mall

Mall developer SM Prime Holdings, Inc. will invest an additional P10 billion in the development of SM Seaside Complex at the South Road Properties (SRP).

SM Prime president Hans T. Sy said the total project cost will be P30 billion. For the mall alone, Sy said they have already spent P7.5 billion since they started construction in 2011.

“At the rate that we’re going now, I say we will be increasing our investment to P30 billion from only P20 billion that we announced last time,” he said during the Tenant Preview of the mall yesterday.

The five-level mall, to be called SM Seaside City Cebu, is targeted to open this November.

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