SM Prime sticks to P80-B capex; Tetangco joins board

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By: Manila Bulletin

SM Prime Holdings Inc., one of the leading integrated property developers in Southeast Asia, is subjecting its P80-billion capital expenditure budget for 2021 to a quarterly review.

During the firm’s annual stockholders’ meeting, SM Prime President Jeffrey Lim said the regular review was necessary given the current situation and challenges it faces due to the COVID-19 pandemic.

The P80-billion capex budget will be used by the company for its strategic landbanking as well as mall and residential development projects including the three malls it plans to open this year and the expansion of several existing malls.

 

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