Latest news with #EthyleneTetrafluoroethylene
GMA Network
3 days ago
- Business
- GMA Network
SM Prime to spend P7B to redevelop SM Megamall
SM Megamall Building A fifth floor garden will have an ETFE roofing system, a lightweight, highly transparent and eco-friendly alternative to glass that allows more natural light into the indoor garden. SM PRIME SM Prime Holdings Inc. is set to spend some P7 billion to redevelop SM Megamall to adopt a 'Crystal Islands' concept designed by the architectural firm known for developments such as Singapore's Jewel Changi and Thailand's Icon Siam. The redevelopment will be designed by UK-based architectural firm Benoy, emphasizing natural light, open flow, and organic forms, adding 20,000 square meters of gross leasable area. It will have a phased completion targeted between 2027 and 2029. It will also add themed retail zones, and operational upgrades including a new four-level basement parking facility with over 1,600 slots, state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court, and upgraded areas and restrooms. SM Prime said the design also features sustainability initiatives such as a rainwater harvesting system with a 500-cubic-meter capacity, Ethylene Tetrafluoroethylene (ETFE) roofing, skylights and clerestory windows, and sensor-activated escalators. According to SM Supermalls president Steven Tan, SM Megamall is still ranked the highest out of all the company's malls in terms of per-square-meter sales, and this is expected to increase even further with the redevelopment. 'We have redevelopment lined up for the next five years now, as well as opening new malls. You know, we always assess the maturity of an existing mall if they are ready for expansion,' he said in a recent briefing. 'It has to have a certain level of maturity in terms of business and a certain occupancy that it has to reach. We have a matrix to go after that, but this is all planned out — not just for this year, and not just for next year, even for the next five years,' he added. Tan also noted that more retailers are expected to take space in SM Megamall with the redevelopment, as it also has the highest waiting list among all the company's malls. 'We always work with our partners when it comes to our rental or leasing of our space. We also always study the sales over rent of the tenants. If the threshold still allows us to increase the rent we normally do that annually, but of course working with our tenant partners is key here,' he said. SM Prime posted an all-time high net income of P24.5 billion in the first half of the year, as strong consumption and the recovery in retail and tourism drove revenues up by 5% to P68 billion. Aside from SM Supermalls, SM Prime's subsidiaries include SM Residences (the umbrella residential arm segment of SMDC, SM Signature Series, and SM Leisure Resort Residences), SM Hotels and Convention Centers, and SM Offices. — RSJ, GMA Integrated News
Otago Daily Times
26-06-2025
- Sport
- Otago Daily Times
First seats installed at Christchurch's new stadium
The first seats have been installed at Christchurch's new central city stadium. Christchurch City Council project director Kent Summerfield said having the first seat in place in One New Zealand Stadium at Te Kaha was 'a major milestone moment' for the project. 'Installation of the seating is one of our key remaining workstreams and we expect the last seat to be in place late this year,' says Summerfield. The seats feature a kowhaiwhai pattern created by local visual artist and graphic designer Morgan Darlison (Ngāi Tahu, Ngāti Porou, Tainui). 'The seats will be black and grey and form a pattern inspired by the hammerhead shark,' says Mr Summerfield. Photo: Christchurch City Council The hammerhead shark represents strength, tenacity, speed and agility. The stadium has a total seated capacity of 30,000, with 25,000 permanent seats, plus 5,000 more seats able to be added to a temporary stand at the northern end. Another focus area for the project is the roof installation. 'These works are progressing well, with the solid portion of the roof to the south almost complete and installation of the clear plastic product commencing this month,' says Mr Summerfield. The stadium will be covered, with much of the roof made of a clear material called Ethylene Tetrafluoroethylene (ETFE), which is installed in two layers. 'These layers form an air cushion which helps keep the bad weather out and, crucially, allows natural daylight through to support the turf growth,' says Mr Summerfield. The stadium lighting has also been installed in the roof structure. 'After a month of hitting some major targets on site, we remain on track for an opening in April 2026 and within budget,' says Mr Summerfield.
Otago Daily Times
26-06-2025
- Sport
- Otago Daily Times
First seats installed at new stadium
The first seats have been installed at Christchurch's new central city stadium. Christchurch City Council project director Kent Summerfield said having the first seat in place in One New Zealand Stadium at Te Kaha was 'a major milestone moment' for the project. 'Installation of the seating is one of our key remaining workstreams and we expect the last seat to be in place late this year,' says Summerfield. The seats feature a kowhaiwhai pattern created by local visual artist and graphic designer Morgan Darlison (Ngāi Tahu, Ngāti Porou, Tainui). 'The seats will be black and grey and form a pattern inspired by the hammerhead shark,' says Mr Summerfield. Photo: Christchurch City Council The hammerhead shark represents strength, tenacity, speed and agility. The stadium has a total seated capacity of 30,000, with 25,000 permanent seats, plus 5,000 more seats able to be added to a temporary stand at the northern end. Another focus area for the project is the roof installation. 'These works are progressing well, with the solid portion of the roof to the south almost complete and installation of the clear plastic product commencing this month,' says Mr Summerfield. The stadium will be covered, with much of the roof made of a clear material called Ethylene Tetrafluoroethylene (ETFE), which is installed in two layers. 'These layers form an air cushion which helps keep the bad weather out and, crucially, allows natural daylight through to support the turf growth,' says Mr Summerfield. The stadium lighting has also been installed in the roof structure. 'After a month of hitting some major targets on site, we remain on track for an opening in April 2026 and within budget,' says Mr Summerfield.
