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SM-ALI group consortium won the bid in SRP, Cebu City

CEBU CITY, June 30, 2015 -- Two of the country’s property giants joined forces and successfully secured the winning bid of 10 billion for a portion of the South Road Properties (SRP) in Cebu City yesterday.
 
SM Prime Holdings, Inc. (SM), with Ayala Land, Inc. (ALI), and its affiliate, Cebu Holdings, Inc. (CHI), formed a consortium which won the bid for the 26-hectare Lot No. 8-B-1 at SRP.
 
Dubbed as the SM-ALI Group consortium, the consortium benefits from the combined financial muscle, technical expertise and the real estate experience of SM and the ALI Group. The SMALI Group will co-develop the property pursuant to a joint master plan.
SM Prime is one of the largest integrated property developers in Southeast Asia that offers innovative and sustainable lifestyle cities with the development of malls, residences, offices, hotels, and convention centers.
With over eight decades of experience together with Ayala Corporation, Ayala Land combines leading-edge product innovation with prudent and effective risk management practices in developing large-scale communities with residential, commercial and leisure uses. Ayala Land’s proven track record includes the development of Makati as the country’s premier Central Business District and Ayala Alabang as a prestigious suburban residential community. It is replicating these successes in areas such as Bonifacio Global City Cebu, and Canlubang.
 
ALI-affiliate CHI brings in its local expertise in this consortium, having developed two of Cebu’s primest business and lifestyle districts – the Cebu Business Park and the Cebu I.T. Park. Its master planned estates are the preferred locations for traditional office, BPO office and
shopping center leasing. The various residential condominiums it has launched bring in over 4,500 units upon completion, making it the biggest real estate group offering the most number of units across a wide range of market segments in Cebu.
With the resources and expertise of these real estate companies, this newest development at the SRP is planned as another showcase of integrated, master planned and sustainable developments that will bring in more investments and jobs for the local economy."
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For further information, please contact:
Alex Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940
Date: 
Tuesday, June 30, 2015