SM confirmed it is proposing a 300-hectare Manila Bay reclamation project.
The Pasay City government disclosed the proposal on Tuesday, saying other groups have until Friday to submit counter proposals.
Pasay City government said SM put the cost at P54.5 billion, saying it will shoulder the cost in exchange for half the land.
The total area is about five times the area of SM's Mall of Asia complex on Manila Bay.
ANC Top Story, October 1, 2013