SM forays into largest private convention, exhibition facility

BY RUBY ANNE M. RUBIO, Reporter/BusinessWorld SM Investments Corp. (SMIC), the holding company of tycoon Henry Sy, will open in May 2007 the P900-million SMX Convention Center, which is being branded as the country’s largest privately run exhibition and convention center. In a disclosure, the group said a concrete pouring on Sept. 21 started the construction for the 46,074-square meter center at the 60-hectare SM Central Business Park in Pasay City. "SMX Convention Center is touted to become the preferred venue for major conferences and trade exhibits with the building’s contemporary design, flexible open spaces and modern facilities, and ideal location. This early, organizers of both local and international events have already signified their interest," said Corazon Guidote, investor relations head at SM Investments. Formerly called The Maitrade Expo and Convention, the three-storey facility will feature a main lobby with VIP rooms and a concierge. The ground level will be convertible into four halls, while the third level will have six halls and nine meeting rooms. Commercial shops will be located along the perimeter and a second level bridgeway will connect it to the SM Mall of Asia. SMIC will also soon launch its project to develop an adjacent 15,000-seating capacity sports arena. "These, in addition to the SM Mall of Asia and the OneEcom Center, are the four anchor projects that will turn the 60-hectare SM Central Business Park into the country’s prime business district by the bay, integrating technologically advanced infrastructure with office, entertainment, recreational, hotel and tourism land uses," Ms. Guidote said. The P1.5-billion OneEcom Center is a 94,000-square meter, 10-storey multipurpose building that will cater mostly to technology-based companies engaged in software development and business process outsourcing such as contact centers, animation and medical transcription. OneEcom Center will also accommodate financial services, consulting and even tourism-related offices. The central business park will be integrated with entertainment, recreational, tourism and residential facilities. SMIC is a conglomerate with interests in retail merchandising, shopping malls, banking and financial services, real estate development and tourism. Its shares Wednesday closed P2.50 weaker at P250.