CEBU CITY — SM Prime Holdings Inc. on Thursday formally introduced its P7-billion SM Seaside Cebu Arena to trade, industry and corporate partners, marking the next phase in the development of its South Road Properties (SRP) estate.
The trade launch gathered around 400 representatives from the events, entertainment, tourism, hospitality and corporate sectors, who were given a preview of the 25,000-seat venue through a flythrough presentation highlighting its design and event capabilities.
SM Prime said the arena was part of a long-term vision for Cebu and was expected to help attract more local and foreign tourists while generating economic opportunities for businesses and nearby communities.
"This arena is part of our long-term vision for Cebu. By creating a world-class platform for live entertainment and large-scale gatherings within SRP, we give local and foreign tourists another reason to visit and stay longer," SM Prime President Jeffrey Lim said.
"More importantly, this investment will generate economic opportunities for local entrepreneurs and nearby communities," he added.
Designed by global architecture firm Arquitectonica, the arena spans more than seven hectares of gross floor area and can accommodate up to 25,000 guests, making it the largest indoor events venue in the Visayas.
The facility has direct access to SM Seaside City Cebu and the upcoming SMX Convention Center Seaside Cebu, Park Inn by Radisson and Radisson Hotel, forming an integrated tourism, business and lifestyle hub within the SRP estate.
SM Prime said the arena featured Cebu's largest center-hung display system and was designed to host concerts, sporting events, corporate gatherings and other large-scale productions.
The arena will open its major events calendar with the BINI Signals World Tour on July 11, followed by performances from IV of Spades, TJ Monterde and KZ Tandingan, Hillsong Worship and LANY.
