A check for P1.18 billion. Cebu City Vice Mayor Edgardo Labella and City Treasurer Diwa Cuevas show a check for P1,185,228,000, the down payment from the Ayala Land-SM Prime Holdings consortium for 26 hectares in the South Road Properties. The total “security” the City received yesterday amounted to P1.6 billion, the biggest it has made in one day, Cuevas said. (Sun.Star Foto/Arni Aclao)

After several high-profile squabbles over property deals in the last couple of years, realtors Ayala Land, Inc., and SM Prime Holdings, Inc., teamed up to get a 26-hectare project along the reclaimed area off Cebu.

MANILA – A consortium formed by the country’s major property developers won the bid for the development of a 26-hectare portion of the South Road Properties in Cebu City for P10 billion.

A consortium led by property developers SM Prime Holdings Inc. and Ayala Land Inc. has won a contract to develop a 26-hectare reclaimed property in Cebu City.

Property giants SM Prime Holdings Inc. and Ayala Land Inc. (ALI) on Tuesday said they won the bidding for the right to develop a portion of the South Road Properties (SRP) in Cebu City.

A CONSORTIUM of SM Prime Holdings, Inc. and Ayala Land, Inc. (ALI) won the bid to develop a portion of the South Road Properties (SRP) in Cebu City for P10 billion, marking the third partnership of the two real estate behemoths less than a year after burying the hatchet over a stake in the unlisted property holding firm of the Ortigas family.

IN a bid to raise awareness on the current state of environment to encourage positive action towards preserving the eco-system, retail giant SM Supermalls will host a series of film festivals to elementary and high school students featuring environmentally-themed movies and documentaries.

The country’s top two of property giants, SM Prime Holdings and Ayala Land Inc. have joined forces and successfully won the right to develop a portion of the South Road Properties (SRP) in Cebu City with a bid of P10 billion.

MANILA – A consortium led by SM Prime Holdings Inc. and Ayala Land Inc. secured the bid for the development of a reclaimed property in Cebu.

SM Prime Holdings Inc., the country’s largest integrated real estate company, has acquired a two-hectare property along Epifanio de los Santos Avenue in Guadalupe, Makati from DMCI Holdings Inc. for an undisclosed amount.