Retail in Asia

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Philippines’ SM offers to reclaim Manila Bay area

SM Land Inc. of retail magnate Henry Sy has offered to reclaim a 300-hectare property along Manila Bay in Pasay City for P54.5 billion (USD1.2 billion).

Based on an unsolicited proposal submitted to the Public Private Partnership Selection Committee (PPP-SC) of the local government of Pasay, SM Land offered to reclaim and develop approximately 300 hectares of foreshore and onshore areas of Manila Bay located at the western part of Pasay.

 

(Source: philstar.com)