Speaking of SM Prime, the company said it would proceed with the plan to build an indoor arena in Cebu, despite the failure of the Philippines to host the 2019 Fiba Basketball World Cup.
 
China has beaten the Philippines for the right to host the prestigious sports event.
 
The group of businessman Manuel Pangilinan during the bidding submitted several potential venues for the World Cup, including SM Mall of Asia Arena in Pasay City, Philippine Arena in Bulacan, Araneta Coliseum in Cubao and the soon-to-rise SM Cebu Arena.
 
While hosting the Fiba World Cup is now out of the question, SM Prime president Hans Sy said the development of SM Cebu Arena within the 30-hectare SM Seaside Complex will push through.
 
“It is a commitment I made with the Cebuanos. So construction will push through,” Sy said.
 
Final details are being completed, including the size and capacity of the arena. Jenniffer B. Austria