SM Prime Holdings president Hans Sy, who led the inauguration of the P1.5 billion SM City Bacolod expanded North Wing, yesterday said his firm is also set to build a hotel and another mall in Negros Occidental.

“Seven years ago, when we opened SM Bacolod, we saw so much potential in Bacolod. We see the future here,” Sy said.

Confident in the economic stability of Bacolod and the emerging growth of neighboring towns and cities, SM Prime Holdings affirms its commitment to provide improved retail facilities and services to the Negrenses, he said.

The expanded area at the Bacolod mall is similar to the Mega Fashion Hall of the SM Megamall in the Ortigas business district of Metro Manila. That’s how much we believe in Bacolod, he added.

The new section of the mall houses a 4,000-seater SMX Convention Center, space for about 200 more retail stores for global and national brands, 71 of which opened yesterday, a bigger and better food court, a grand atrium and a cyberzone.

Sy said the new section of the mall will provide jobs to 2,500 people and its convention center will attract more conventions and gatherings to showcase products that will bring in more revenues for Bacolod City.

This expansion is SM Prime’s way of paying tribute to the residents of Bacolod City and nearby areas, he said.

"This expansion clearly manifests SM Prime's steadfast commitment to assist in the further development and progress of the city through increased tax payments to the local government, as well as by providing residents an improved destination mall and a highly viable venue for business and commerce," he said.

"Our continuing business expansion only affirms our commitment to provide for better retail facilities and services in cities and municipalities that are fast emerging from greater economic stability fuelled by remittances from overseas workers and the growth in the business process outsourcing sector," he added.

The new section expands the mall’s gross area by 133,893 square meters, almost double the size of the original mall, Sy said.
The original part of the mall that cost P1.6 billion and opened on March 2007 has an area of 71,759 square meters, and currently employs about 3,000 people.

Sy said SM also plans to build a P400 to 500 million hotel nears their Bacolod mall area.

SM is also looking at another area in Negros Occidental for the construction of another mall next year, Sy added.

He would not say if it will be in the north or south of the province, as divulging the location might drive up property prices, he said.

Asked if SM would pursue its suit against the Negros Occidental provincial government for its awarding the sale and lease of its 7.7 hectare property in Bacolod City to AyalaLand Inc., Sy said “I don’t think I should comment on that, my intention is really just very good for Bacolod.”

A mass prior to the opening of the mall was led by Bacolod Bishop Vicente Navarra.

Present at the mass and blessing of the mall before it opened to the public at 10 a.m. yesterday were Bacolod Rep. Evelio Leonardia, Bacolod Mayor Monico Puentevella, Silay Mayor Jose Montelibano, and Gov. Alfredo Marañon’s wife, Marilyn.

Gov. Marañon said the expansion of the Bacolod SM Mall is good for Negros Occidental as it will mean more employment and increased purchase of Negrense products by the retail giant.*CPG

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