Wednesday, May 24, 2006
Filipinos love to shop: trader
FILIPINOS love to shop and they shop as a hobby, observed business tycoon Hans Sy, SM Prime Holdings Inc. president, during the press conference at SM Mall of Asia on May 19.
Sy said the rapid expansion of SM malls nationwide has one great advantage as most Filipinos find joy in shopping.
With the completion of SM Mall of Asia, this pronouncement might come into fruition.
SM Mall of Asia took two and a half years to build at a cost of P6.5-billion right at the SM Central Business Park, Bay City in Pasay City.
With a floor area measuring 400,000 square meters, it has 600 retail stores and 150 restaurants.
Parking slots for private vehicles total to 500 and 5,000 square meters for public transportation.
"This project was built not driven by emotions. It has its provisions," Sy said answering queries on whether it is the right time to open a gigantic project with the country's shaky economy.
He admits that the "pressure on operations now begins as the pressure on construction ended."
Sy said SM Mall of Asia will hopefully be a destination point.
He said the structure will put the country on the world map.
"It is only 15 minutes away from the airport. It could be the first or the last stop for tourists," he said.
Built on a 60-hectare property overlooking Manila Bay, the mall is composed of four buildings linked by elevated walkways-Main Mall, North Parking Building, South Parking Building and the Entertainment Center Building.
Among its main features are: the Imax Theatre with a 600 seating capacity, Olympic-size Ice Skating Rink, Centerstage Theater with 900 seating capacity, six cinemas with 3,000 seating capacity and one premier cinema with 1,100 seating capacity.
SM Mall of Asia opened on Sunday.
For Bisaya stories from Davao. Click here. (May 24, 2006 issue)
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