- CHERYL G. CRUZ
SM Prime Holdings Inc. (SMPHI) turned over P131.89 million to Bacolod Mayor Alfredo Benitez Oct. 20 at the signing of its 40-year lease contract with the City, at the Government Center.
The check for P131 million, turned over by SM Supermalls president Steven Tan to Benitez, represents seven years of advance rental for the lease and development of various city properties near the mall, including the Manokan Country, all with an aggregate area of 16,875 square meters, or 1.68 hectares.
The rent per annum is P21.26 million, or about P1.7 million a month, as per the lease deal signed by Benitez and Jeffrey Lim, president of SMPHI, with Tan and City Legal Officer, Atty. Carlos Romeo Ting Jr., as witnesses.
The contract signing and payment of advance rental signaled the start of the redevelopment of the iconic Manokan Country “into a future-ready tourist destination”.
“Bacolod City has always prided itself on its rich heritage and traditions. (But) in a world that moves at a rapid pace, it is essential that we adapt and embrace change while preserving our cultural identity,” Tan said at the contract signing.
He assured that the modernization of the Manokan Country “will allow us to retain our authenticity while catering to the needs of a modern society.”
“Let us work hand in hand to transform Manokan Country into a modern destination that showcases the best of Bacolod’s culinary heritage. Together, we can create a more vibrant, prosperous, and memorable experience for the people of Bacolod, for the tourists, and for the entrepreneurs, who do business in this iconic establishment,” Tan added.
Lim said in a statement that the modernization of Manokan Country is essential to cater to the evolving needs and expectations of both locals and tourists. “Upgrading the infrastructure and facilities within Manokan will not only enhance the overall dining experience but also improve the safety, hygiene standards, and operational efficiency that customers are prioritizing nowadays.”
By modernizing the Manokan Country, SM Prime and the city government aim to create a more appealing and comfortable environment for visitors, ensuring a positive impression of Bacolod, explained SMPHI, one of Asia’s leading real estate developers.
It added that upgraded facilities, such as modern seating arrangements, proper ventilation, improved sanitation systems, and expanded parking spaces will contribute to a more enjoyable dining experience at the redeveloped Manokan Country./CGC
