The Philippines’ mall developer and operator SM Prime opened its 43rd shopping mall in the country, SM City Consolacion in Cebu, on June 1.
The brand new mall, with a gross floor area of 106,857 sqm, is located along the Cebu North Road, Barangay Lamac, Consolacion, Cebu. It is SM Prime’s second mall in the province, after SM City Cebu, which opened in November 1993 and is 11km away.
SM Prime president Hans Sy said Cebu region remains a key expansion area for SM malls.
“This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth.”
SM City Consolacion has a leasable area of 57,842 sqm, 89 per cent of which has already been awarded to various tenants. The shopping mall’s anchor tenants are SM Department Store and SM Supermarket.
Among the quick service restaurants located in the mall are Jollibee, Chowking, Greenwich, Red Ribbon, Pizza Hut, KFC, and Mang Inasal. Food restaurants serving local Cebuano cuisine such as Chika-an Sa Cebu and Jonie’s Chicken are likewise tenants of SM City Consolacion. Other mall tenants include BDO, Watsons, Ace Hardware, National Bookstore, Ideal Vision, Bench, and Penshoppe, among others.
SM City Consolacion’s amenities include a cyberzone; a food court that seats up to 668 diners, four cinemas, with a combined seating capacity of 1488 and parking slots for over 700 vehicles.
In line with SM Prime’s expansion plans for Cebu, construction of the 4.5 billion pesos (US$103.72 million) shopping mall SM Seaside City on the reclaimed South Road Properties is under way. The mall is expected to open in the third quarter of 2014 and will boast of a gross floor area of 241,600 sqm, making it Cebu’s biggest mall and fourth among SM malls.
For the rest of 2012, SM Prime is scheduled to open SM City San Fernando in Pampanga, SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, and SM Chongqing in China. By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.
GB
