Although there haven’t been any official statements yet from both SM Prime Holdings, Inc. (the corporation behind the SM supermalls around the country) and the Salazar Family of General Santos City (said to be the owners of an 8-hectare property along Santiago Boulevard, GenSan where SM reportedly intends to put up the SM General Santos Supermall), observers believe that it’s a done deal.
The fact that General Santos Mayor Pedro Acharon already confirmed the signing of a lease between the two concerned parties, then the project already has the green light.
SM reportedly intends to lease the Salazar-owned land for 50 years. And we all know that long-term leases mean financial security for the owners. Good for them, yes?
SM General Santos City is seen to be the imminent rival to Robinson’s Mall General Santos City, which I think is set to start operations this year.
I wonder if this latest development worries the owners of Gaisano Mall and KCC Mall GenSan?