CONSOLACION | SM City Consolación [3F|com]

[Jarenz]

Originally Posted by slimer

maayo ni imo gibuhat @henz da hehehe... mas maka-rely pa ta sa SSC kay sa mga newspapers hehehe...

Mas nindot man gud if direct from the source kay ang sa newspaper bisan asa lang kuha-on . . .

At least from the SSC Forumers 75% reliable

Originally Posted by rustyboi

naming it SM City Consolacion will pressure our local government to convert Consolacion into a city... it's a good thing

SM City North Cebu? sounds good.

What do you guys think of SM putting up a mall in Danao City? I think a major mall up there would greatly decongest Cebu City, and encourage more people to move north. what's apparent, real estate companies are developing several areas in Compostela and Lilo-an for residential subdivisions. it's a good start. and perhaps someday an SM City Danao will become feasible.

Kung SM City North Cebu . . .

What if naa SM City Bogo

[slimer]

Originally Posted by Jarenz

Mas nindot man gud if direct from the source kay ang sa newspaper bisan asa lang kuha-on . . .

At least from the SSC Forumers 75% reliable

ang kanang sa newspaper gikan man sad na mga developers/investors kay mag-press release man na sila. di lang gyud sila mo-focus nya kulang sad sa info about Cebu mao na ang resulta towingwingwing!

[blueguy]

Originally Posted by Henz

Yep... there is an existing huge building, which according to my informant will be either demolished or renovated. The property is huge, estimated at more or less 5 hectares.

The lot was purchased by the Profood Group ( Justin Uy) from a manufacturing firm which failed due to the financial crisis.

Do you have the layout via google earth?

[Sky Harbor]

Originally Posted by blueguy

SM City daw

For an SM City, it sure is small. Hopefully it will be larger.

[diehardbisdak]

^ it's 35K to 50K sqm. as per official statement...

[Sky Harbor]

Yes, I read the official statement.

The question is what kind of area. If it is floor area, then this mall is definitely small. The smallest SM City in fact is SM City Rosario, with a floor area of 58,000 square meters. But if it is land area, then this should be a fairly decent-sized SM, along the lines of SM City Santa Mesa and SM City San Lazaro in terms of lot size.

[a_terisk78y™]

para na lingaw

heres the googlemap as request by blueguy

image hosted on flickr


blue circle the future site of sm north cebu

yellow circle, foodah

pit senyor!

[mAiNsTrEaMhunter]

cool!

[federalist]

Originally Posted by Henz

[IMG][/IMG]

salamat bai sa imo kakugi. traffic raba kaayo na diha ma buntag ug inig ka hapon, samot gyud na diha dapita, maayo nalang naay coastal road na nya.

[slimer]

a closer look...

[diehardbisdak]

^ dili gyud diay kaayo dako ang lot bai...

[LordCarnal]

I trust on BlueGuy who said that it's going to be an SM City.

If I'm not mistaken, he's actually a top executive in SM. Hehehe..


.:.

[diehardbisdak]

or, In-House Engineer? sa Sulod Mercado...heheh!

...sa latest news, it's final na ang SMX will be at SRP....basin sab ang iMax...and, ice skating rink?

[diehardbisdak]

Originally Posted by luck

AFTER SIGNING DEAL TO BUY SRP LOT SM set to pour P21B into Cebu
THE FREEMAN
15-January 2009
By EHDA M. DAGO-OC

After closing the P2.7 billion deal with the Cebu City government for the purchase of 30 hectares at South Road Properties (SRP), SM Prime Holdings is ready to pour in at least P21 billion in investments here for the next eight years.

SM Prime Holdings president Hans Sy said yesterday that the company will be investing at least P20 billion for the development of the SRP property, plus another P1 billion for the establishment of another mall in the northern part of Cebu.

Sy was in Cebu yesterday to sign the Memorandum of Agreement (MOA) with the City of Cebu led by Mayor Tomas R. Osmeña for the closure of the lot buy negotiation.

Sy, personally turned over a total of P406,456,800.00 to the Cebu City government yesterday and the company now has a total installment payment of about P670 million.

According to Sy, SM will be building one of the 10 largest malls in the world at SRP with 250 thousand square meters allocated for shopping mall development only.

The entire 30 hectares will be a total integrated facility that will host two hotels, a huge convention center of about 20 thousand square meters, high-rise residential and commercial condominiums, a university and a hospital.

“This is the start of the whole new ballgame. We are going roll our sleeves. This is the project we’ve envisioned for Cebu,” Sy said.

The formal ground breaking for the horizontal development of the SM project at SRP is set in the next few months, “probably before the rainy season,” Sy said.

The company will first build the shopping mall in the next two and a half years, and it will be followed by other developments like the construction of convention center (similar to its Manila facility SMX at Mall of Asia), the two hotels and eventually the high-rise condominiums.

Simultaneously, while SM Prime is working on to build the project at SRP, Sy said it will also start the construction of the shopping mall to be located in the northern part of Cebu.

Sy however, refused to elaborate on the northern Cebu shopping mall project, as negotiations with its partner is still on going.

He said SM will be spending about a billion pesos for the construction of SM Shopping mall in northern Cebu.

The P21 billion that SM will be investing in Cebu, excluded the company’s outlay on the soon to open Radisson Hotel, which incurred an investment of P2.8 billion.

According to Sy, Cebu’s well-managed economy is one of the reasons why the company has put its money here.

“We are confident of how the whole Cebu is being managed. We are going to duplicate in Cebu what we’ve done in Manila,” he said.

It took SM Prime Holdings three years to negotiate with the Cebu City government for the purchase of the lot at SRP.
During the special session yesterday, the city legislators agreed to authorize Mayor Osmeña to sign a deed of conditional sale for 304,100 square meters with SM Prime Holdings president Hans T. Sy.

The city legislators passed the proposed resolution of Councilor Jose Daluz III to allow the mayor to sign the deed of sale with Sy after Councilor Edgardo Labella, who chairs the committee on laws of the Cebu City Council, said there is no legal impediment if the city will enter into a conditional sale for the 30.4 hectares at P2,709,712,000.

The unsolicited proposal of SM Prime Holdings Incorporated to purchase the city lots was published in two newspapers of national and local circulation, Labella said, and no other interested party expressed interest to purchase and to challenge the proposal.

The signing of the deed of conditional sale was done inside the SM City Cebu witnessed by almost all of the city councilors and many barangay captains.

City administrator Francisco “Bimbo” Fernandez explained to Vice Mayor Michael Rama that the principal amount of P2,709,712,000 is payable for six years at an interest of five per cent per annum on a diminishing balance.

After paying the P406 million yesterday, SM Prime Holdings is also required to pay another P433.9 million in four installments within this year, while another P417 million will be paid in 2011.

Fernandez said SM Prime Holdings will also pay P400.1 million in 2012, then P383.1 million in 2013. Another P366.2 million will be paid on 2014, and the last payment of P349.2 million will be settled on 2015.

“Wala na tay problema sa pangbayad sa utang sa city gikan sa Japan Bank for International Cooperation kay gawas sa ibayad sa SM, duna pay millions of pesos nga bayad nga atong makolekta gikan sa Filinvest Land Incorporated,” the city administrator said.

FLI also purchased 10 hectares of the SRP and entered a joint venture project with the city for another 40 hectares.--/NLQ

[SleMarKen]

Originally Posted by LordCarnal

I trust on BlueGuy who said that it's going to be an SM City.

If I'm not mistaken, he's actually a top executive in SM. Hehehe..


.:.

OO nga... pa daw daw lang pero bigatin din yan sa SM VisMin area

[ivanc]

irregular kaayo ang shape sa lot...

[diehardbisdak]

^ one billion mall? ....i'm excited to see kung unsa'y design sa facade and the interior

[kenken94]

-dp-

[diehardbisdak]

related news...


SRP, northern Cebu projects to cost SM Prime some P21B
Sun Star Online
January 14, 2010


SM PRIME Holdings Inc. (SMPHI) is expected to pour in new investments amounting to a total of P21 billion in Cebu over the next eight years.

SMPHI president Hans Sy revealed this during an interview yesterday, following the formal signing of contracts for the firm’s purchase of a 30-hectare property at the South Road Properties (SRP).

The P20 billion of the new investments to come in will be used to fund its mixed-use development at SRP, which is seen to be completed in eight years.

The remaining P1 billion will be used to fund the mall project that SM is putting up in northern Cebu, which is expected to break ground in the next six months.

The SRP project and the one in the north will be built simultaneously.

Sy said the development should break ground before the start of this year’s rainy season.

“We are taking advantage of putting a mark here in Cebu…we (are looking at) duplicating in Cebu what we have done in Manila,” Sy said.

Although there are still final changes to be made to its development plan, Sy said the first project that will come in at its SRP property is the mall, which is going to have a gross floor area of 250,000 square meters.

The development will be patterned after the SM Mall of Asia in Pasig City, where after the mall started its operations, other developments followed.

At its SRP project, Sy said the company plans to put up a convention center and two hotels.

Two to five years following the completion of the mall, Sy said the company will put up a high-rise residential project, a school and a hospital.

In the next two months, SMPHI is expected to launch the name of its development at SRP. Sy said the name will have “something to do” with the ocean view at SRP.

Meanwhile, Sy said the Radisson Blu Hotel, which sits right next to the SM City Cebu in the North Reclamation Area, will “definitely open in June.”

“It was larger than we thought. It has 400 bedrooms and it is one project that will make Cebuanos proud,” Sy said.

He added that the Radisson Blu turned out “better than the five-star hotels in Manila.”

The hotel is already 95 percent complete and the turnover of operations is scheduled in March, when the training of the hotel staff will begin and run for about two to three months.

For the whole Radisson Blu project, SMPHI has already spent at least P2.8 billion

[Henz]

From what i have known.. the mall will be a joint venture with the Uy Family... The 1 Billion of SM will actually be used in the renovation na lang seguro to fit the existing building into a Mall..........

Judging from the size of the current building... it huge... what can be seen in the picture from the view within the road is only about 20% of the entire building..