SM Prime still waiting for go-signal for reclamation project


Posted at Mar 01 2016 07:22 PM

MANILA - SM Prime Holdings Inc. is still waiting approval from the Philippine Reclamation Authority and National Economic and Development Authority for its planned integrated reclamation projects in Pasay and Paranaque.

The property firm said it has completed the master plan for the reclamation project, but it has to wait until all necessary approvals are secured before presenting the plan.

SM Prime president Hans Sy said only approvals from the local government units of Pasay and Paranaque have been secured so far.

"We have a master plan already completed. But I was prevailed upon not to present the master plan unless everything is approved," Sy said on Tuesday.

SM Prime bagged the estimated P100 billion projects in 2014. It earlier said the reclamation projects are seen to be for long-term development because of the scale.

The firm contracted the world's largest engineering design firm AECOM for the integrated master plan.