Latest news with #Sy-led
GMA Network
4 days ago
- Business
- GMA Network
SM hospitality arm earmarks P5.3 billion for 5-year MICE expansion
SM Hotels and Convention Corp. (SMHCC), the hospitality arm of Sy-led property giant SM Prime Holdings Inc., is embarking on an expansion initiative for its meetings, incentives, conferences, and exhibitions (MICE) footprint. In a statement, SM Prime said SMHCC has set aside a P5.3-billion investment to ramp up its MICE portfolio over the next five years. The Sy family's property developer said its hospitality arm's expansion will begin with two major developments in Cebu and Pasay. SM Prime said the SMX Convention Center Seaside Cebu is set to open in the third quarter of 2026. SMX Cebu is poised to be one of the largest and most modern convention venues in the Visayas. The convention center in the "Queen City of the South" will have 21,000 square meters of leasable space across six levels, directly integrated with the SM Seaside Arena and SM Seaside Cebu Mall. SMHCC also broke ground on SMXCITE at the Mall of Asia Complex in Pasay City last April. SMXCITE, set to open in the first quarter of 2027, is seen to add 18,000 square meters of leasable space to the existing 17,000 square meters at SMX Manila, enabling SMHCC to accommodate large-scale, concurrent events. "Our expansion into Cebu and Pasay reflects our strong belief in the potential of these cities. By building next-generation venues with scale and flexibility, we are enabling more communities to benefit from the business and tourism opportunities that MICE events bring," said SMHCC executive vice president Peggy Angeles. These projects are part of SMHCC's broader strategy to grow its events portfolio outside Metro Manila and support economic activity in emerging urban centers, according to SM Prime. The Sy-led property developer said each SMX venue is co-located with hotels, malls and transport infrastructure to provide seamless access for organizers and guests. — VDV, GMA Integrated News
GMA Network
24-06-2025
- Business
- GMA Network
BDO chief Nestor Tan is first Filipino president of IMC
BDO Unibank Inc. president and CEO Nestor Tan has been elected as president of the International Monetary Conference (IMC) for the 2025–2026 term. In a news release on Tuesday, BDO said Tan's election as the first Filipino president of the IMC was held during the organization's annual gathering held in Brussels, Belgium. The IMC is an exclusive, non-profit organization composed of chairpersons and chief executive officers from 58 of the world's largest financial institutions across 31 countries. The list of past presidents include Johan Thijis, CEO, KBC Group, Brussels, Belgium (2024-2025); Carlos Torres Vila, Chair, BBVA, Spain (2023-2024); and John Dugan, Chair, Citigroup, Inc., USA (2022-2023). Since its founding in 1954, the IMC has played a key role in shaping international banking practices and policies, according to BDO. The IMC provides a private forum for dialogue among leading commercial banks, central bank governors, senior government officials, and top executives from global financial organizations such as the International Monetary Fund and the World Bank, the Sy-led bank said. 'Mr. Tan is the first Filipino to be elected as president of the IMC, and his election reflects his extensive expertise in banking and finance and affirms his leadership standing in the global banking community,' BDO said. 'It is also a recognition of BDO's consistent performance and growing influence in the regional and global financial sectors,' the bank added. The Sy-led lender said Tan's appointment as chief of the IMC 'marks a milestone not only for BDO but also for the Philippine banking industry, which continues to gain recognition in the global financial community.' —VAL, GMA Integrated News
