Real Estate - Mall Of Asia complex to received Php10 Billion in investments in next 5 years!

SM Investments Corporation (SMIC), the holding firm of tycoon Henry Sy Sr., is investing P10 billion over the next five years to further develop the 60-hectare Mall of Asia complex in Pasay City by putting up office, hotel and leisure facilities. To serve as nerve-center of the complex is the country's biggest shopping mall, the SM Mall of Asia. When completed, the Mall of Asia complex will host a business and information technology hub, the country's largest convention center, and a 16,000-seat sports and entertainment arena. The SM Mall of Asia Science and

Discovery Center (SDC) was recently unveiled and it is a themed park devoted solely to science and technology.

The SM SDC features a digital planetarium and a wide range of technology and science-themed exhibits.

Meanwhile, the 10-storey One E-Com Center is SMIC's answer to the growing demand for office space from business process outsourcing (BPO) firms. It will offer 76,000 square meters of leasable space to potential locators.

Also recently launched was SMX Convention Center, a Php 1.8-billion development that spans 46,000 square meters. It has open exhibition areas, multifunctional halls and flexible meeting rooms with amenities for major conferences and trade exhibits.

The SMX Convention Center can fit approximately 6,000 people and is envisioned to be the country's biggest venue for local and international trade and cultural events.

Another major development in the pipeline is the SM Arena, a sprawling indoor facility for big-time sports and entertainment events that can seat more than 16,000 spectators.

The SM Arena is expected to be the venue of choice for concerts and other entertainment-related events.

The SM Group will also construct a ferry terminal-to service guests and tourists who want to travel to Cavite City and Bataan and to SMIC's 5,300-hectare ecotourism estate in Nasugbu, Batangas, called Hamilo Coast.

The ferry terminal will be completed by 2009.

The Mall of Asia complex will also give rise to deluxe hotels, upscale offices and full-serviced apartments.

SMIC will start construction of a four-star hotel within the Mall of Asia complex next year under the Radisson brand. The hotel will have 400 guest rooms and will be operational in October 2009.

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