Philippine billionaire Henry Sy’s shopping mall developer plans to spend PHP63 billion (USD1.51b) in the next three years to add as many as 18 shopping malls at home and in China as consumer spending increases.
SM Prime Holdings, the biggest Philippine retail developer, plans to build four to five malls a year in the Southeast Asian nation. It’s also targeting a shopping centre in China every year, says Hans Sy, the firm’s president and the billionaire’s son.
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(Source: scmp.com)