SM Prime Holdings Inc., the listed property developer of the Sy family, is setting aside P60 billion to P70 billion for next year’s capital spending to fund its mall, offices and hotels development.

Jeffrey Lim, executive vice president and incoming president of SM Prime, told reporters that the company is allotting a “range of P60- to P70- billion” capital expenditures (capex), which is about the same size of the capex spending this year.

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