Business: SM Receives Citations, Consistent Business Awardee

SM Prime Holdings, Inc. and SM Mega Holdings have been cited as top tax payers in Bacolod City for the year 2011. The SM Group has consistently ranked

outstanding as a contributor to the growth and development of the city’s economy.

SM is a consistent outstanding tax contributor.*

Plaques of appreciation were awarded to each as top real property tax payers for the previous year in the corporation category, thus having significantly contributed to economic activity, job generation and making possible for Bacolod City to deliver its mandate in public service.

SM Prime Holdings was also cited for the influx of P1.4 Billion additional investments for the ongoing infrastructure activity related to the expansion of its mall at the reclamation area. Mayor Evelio Leonardia has praised the company for its "sound conviction in the flourishing economy of Bacolod City" in augmenting its original P1.6 billion investment in 2007.

SM City Bacolod has targeted the completion of Phase 1 of the two-phase project in the first half of 2013. Upon full completion in 2014, the mall will offer an additional 102,043 square meters of gross floor area, with approximately 81,200 sqms of gross leasable area. This will impact economic growth and employment generation. The bigger, improved building will translate to a much better shopping, dining, malling and entertainment experience for the people of the city, the province and visitors.

The awards were presented at Bacolod’s 74th Charter Anniversary program, which was received by George Jardiolin and Julia Javellana, SM Bacolod mall manager and assistant mall manager, respectively.*