Milestone for Filipino mall giant
SM Prime Holdings has opened its 50th shopping mall.
In a disclosure to the Philippine Stock Exchange, SM Prime said its total mall retail floor space has now reached 6.4 million sqm, the largest of any mall developer in the nation.
The newest centre is the 41,481 sqm SM Center Angono, in the province of Rizal, described as the “Arts Capital of the Philippines”.
Tenants include the largest supermarket in the municipality, a Savemore, Ace Hardware, Watsons and BDO. It will also have 229 parking and motorcycle slots.
SM Angono is SM Prime’s third mall in Rizal, following SM City Masinag and SM City Taytay.
“We are committed to continue our expansion towards the provincial areas which remains our strategic direction in the Philippines. In almost 30 years, SM Malls have become an important element in every community. We will also continue to expand and improve the look and feel of our existing malls to keep them current and exciting for our customers,” said SM Prime president Hans T. Sy.
“Not only do they boost asset values in surrounding areas but they have set the stage for further growth, increased productivity, promoted job and wealth creation, environmental sustainability, and positive social interaction. More importantly, they bring families and friends together. We are very pleased to open our 50th mall and we look forward to bringing more malls to Filipinos into the regions in the coming years,” Sy added.
SM Prime also has five malls in China.