SM Prime Holdings Inc. plans to spend P400 billion in capital
expenditures in the next five years in hopes of doubling revenues and
income as a consolidated property firm of the Sy group, ranking
officials revealed Tuesday.
SM Prime targets to have 85 malls – 74 in the Philippines and 11 in China – 41 residential projects, seven office and 10 hotels and eight leisure development by end-2018, CFO Jeffrey Lim told reporters at a briefing after the company's annual stockholders' meeting at the Mall of Asia in Pasay City.
The P400-billion capex will be financed through internally-generated cash and debt, Lim said.
This year, SM Prime will spend over P70 billion, of which 55 percent will finance new malls and expansion, 28 percent for residential projects, and the balance for offices, hotels and convention centers.
Source: GMA NEWS
SM Prime targets to have 85 malls – 74 in the Philippines and 11 in China – 41 residential projects, seven office and 10 hotels and eight leisure development by end-2018, CFO Jeffrey Lim told reporters at a briefing after the company's annual stockholders' meeting at the Mall of Asia in Pasay City.
The P400-billion capex will be financed through internally-generated cash and debt, Lim said.
This year, SM Prime will spend over P70 billion, of which 55 percent will finance new malls and expansion, 28 percent for residential projects, and the balance for offices, hotels and convention centers.
Source: GMA NEWS
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