BACOLOD CITY—Following the inauguration of its P1.5-billion expansion project at SM City Bacolod on Thursday, SM Prime Holdings Inc. (SMPH) CEO Henry Sy said they would also build a hotel in Bacolod and another mall in a yet-to-be identified site in Negros Occidental.

“We have good intentions for Bacolod,” said Sy, also SMPH president.

“The hotel is in the works. We might start developing the project next year.”

Sy said he doesn’t have the final cost of the project yet, “but I believe that it will be [between] P400 million and P500 million.”

He added that they are looking at negotiating in other towns in the province to put up a mall.

The newly opened Annex at the mall’s North Wing includes the SMX Bacolod Convention Center, SMPH’s first in the Visayas.

“We have seen the future here. This expanded mall’s features are similar to SM Mega Fashion Hall. That is how much we believe in Bacolod,” Sy said.

A convention center, which is starting to host events this week for the Masskara Festival, will be formally opened in November.

“With the upcoming opening of the first SMX Convention Center in the Visayas, we are very excited for Bacolod City and the province of Negros Occidental. We are looking forward to showcasing our brand of exceptional service and to be the catalyst of the growth of the MICE [meetings, incentives, conventions, and exhibitions] industry in this side of the Philippines,” SMX Convention Center Vice President and General Manager Dexter Deyto said in a press statement.

SMX Bacolod is expected to be the premier exhibition and convention center in the region, the company said.

It boasts of modern meeting facilities and services of international standards with 8,218 square meters of event space, pre-function lobby, six meeting rooms and three function rooms that can accommodate 4,500 people, the company added.