{"id":329312,"date":"2024-09-05T12:11:22","date_gmt":"2024-09-05T04:11:22","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329312"},"modified":"2024-09-05T12:11:24","modified_gmt":"2024-09-05T04:11:24","slug":"trade-the-news-smph-to-complete-land-portion-of-pasay-reclamation-project-next-year","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-smph-to-complete-land-portion-of-pasay-reclamation-project-next-year\/","title":{"rendered":"Trade the News: SMPH to complete land portion of Pasay reclamation project next year"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>SM Prime Holdings<\/td><\/tr>
Stock Code<\/strong><\/td>SMPH<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 38.67<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

SM Prime Holdings Inc. (SMPH), the listed integrated property developer of the Sy family, targets to complete by next year the land portion of its reclamation project in Pasay.<\/p>\n\n\n\n

\u201cWe hope to be able to deliver this project on time. Our timetable right now is that we should see the completion of the land by end of next year, hopefully,\u201d SM Engineering Design & Development Corp. president Hans Sy Jr. said on the sidelines of the 30th National Retail Conference and Expo.<\/p>\n\n\n\n

\u201cThat\u2019s just land so you won\u2019t see roads yet. You might see some roads but it\u2019s basically just the base property only. Right now what you can see over there is about 100 hectares,\u201d he said.<\/p>\n\n\n\n

Called SM Smart City, the project is a 360-hectare development that SM Prime is undertaking with the local government unit (LGU) of Pasay.<\/p>\n\n\n\n

SM Smart City is envisioned to be a mixed-use development similar to the success of the Mall of Asia (MOA) reclamation project.<\/p>\n\n\n\n

The reclamation project will be connected to the MOA complex and turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel and convention center.<\/p>\n\n\n\n

SM Prime is committed to deliver the project to the Pasay LGU by 2028. The company officially received from the city of Pasay the notice to proceed for the reclamation project in 2019.<\/p>\n\n\n\n

As the city\u2019s joint venture partner, SM Prime will develop the actual raw land reclamation and horizontal development works.<\/p>\n\n\n\n

SM Prime executive committee chairman Hans Sy said the budget for the reclamation itself is almost P150 billion.<\/p>\n\n\n\n

\u201cThat\u2019s only the land component. The other development we don\u2019t have the budget yet,\u201d he said.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329312","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329312"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329312\/revisions"}],"predecessor-version":[{"id":329314,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329312\/revisions\/329314"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}