by pna
Some 10,000 new jobs are up for grabs following the opening of the SM Lanang Premier and the Radisson Hotel here on Friday.
SM Prime Holdings president Hans T. Sy said "we have been very aggressive in Mindanao because we saw the potential in the island. What we are doing in China is also what we are doing here," he said.
Sy led the opening of SM Lanang Premier on Sept. 28 and had the new landmark inaugurated on Sept. 27 along with the first IMAX threatre, the first Forever 21 store in the region, an SMX Convention Center.
"It will also feature the Science Discovery Center. The Radisson Hotel will open in February 2013," he said.
The Park, an outdoor event venue was, simultaneously opened to the public. It has a breathtaking 122 meters musical fountain and a Skygarden with greens, water features, and restaurants.
Sy said the purchasing power in Mindanao is strong and this can be seen in the study they made per transaction basis.
"I'm giving them reason to spend by offering new market to make the economy rolling," he said.
Sy said next year they will have two projects in Mindanao where another mall will be built in Cagayan de Oro City and in Butuan City with a capital expense each at P2 billion.
"The Cagayan mall will be similar to that in Olongapo City with 1.7 hectares area of multi-level type while Butuan will have an area of 90,000 square meters," he said.
"What we are doing is to invest back the cash we generated in the 46 malls and not just borrow funding for reason of expansion," he said.
Sy also emphasized that all their projects come with sustainability even as he said that features of water collection and recycling is one major component in all the malls that they operate both here and abroad.
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