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(From BusinessWorld (Philippines))
Byline: Jennee Grace U. Rubrico
Sy-owned SM Development Corp. is allocating P500 million for capital expenditures this year, President Henry Sy, Jr. said.
In a talk with reporters on the sidelines of the stockholders' meeting yesterday, Mr. Sy said bulk of the amount will be used to fund the firm's NorthPointe Residences project.
"We have allocated P200 million for this," he said.
The NorthPointe Residences is a condominium development. The five- …