SM firms up plan for 600-hectare project

MANILA, Philippines – The SM Group of the country’s richest man, Henry Sy, envisions its P100 billion reclamation project in Pasay and Parañaque as an integrated 600-hectare development complete with everything a city should have.

“It’s going to be a kind of development that can stand on its own. It’s an integrated development where people don’t have to go out anymore,” said SM Prime president Hans Sy.

He said the master plan for the reclamation project may be completed within the year.

“I think before the end of the year, we are able to have it,” Sy said.

He said one characteristic of the city is that it would be pedestrian friendly.

“We want to introduce more open spaces. We want to come up with a city wherein you don’t really need a car,” Sy said.

He said the 600-hectare project would be complete with commercial and residential developments.

The SM Group has contracted New-York listed firm Aecom Technology Corp., one of the world’s largest engineering companies, for the project’s master planning. The project involves the reclamation and development of roughly 600 hectares of land in both Pasay and Parañaque.

The whole project is going to take time, an estimated three to five years just for the land reclamation process.

For instance, the 100-hectare SM Mall of Asia Complex in Pasay had its development start way back in early 1990s but the mall opened only in 2006. The mall itself is considered among the biggest malls in the world.

Once complete, the project is seen as another grand reclamation project similar to the MOA venture.

According to the Philippine Reclamation Authority, the government agency in charge of reclamation projects in the country, the Las Piñas - Parañaque Coastal Bay Project involves the reclamation of shallow portions of Manila Bay in the southwest of Manila.

Las Piñas City has 431.71 hectares under its jurisdiction while Parañaque City has 203.43 hectares.

“This 635.14 hectare project is intended to be a government center, residential, industrial, educational, and commercial zone. It is bounded by Asia World Properties in the North, and the Municipality of Bacoor, Cavite in the South,” it said.

Other reclamation projects in the pipeline include the Mactan North Reclamation and Development Project that is being undertaken by the City of Lapu-Lapu.

This covers 400 hectares of foreshore and offshore areas in Mactan Bay and aims to integrate industrial, commercial, residential and tourism development . PRA would have a land share of 20 hectares while Lapu-Lapu City will own 380 hectares.

Another project is the Aklan Beach Zone Restoration and Protection Marina Development Project, which is a seafront development.

It is a 2.6 hectare project located at Caticlan, Malay, Aklan. The reclaimed land is envisioned to become tourism sites that would complement the nearby island of Boracay.