SM opens 50th mall in the Philippines

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Another SM mall has opened in the Philippines. SM Center Angono, located in Rizal province, is the newest shopping mall launched by SM Prime Holdings. This is the third mall in the province, after SM City Masinag and SM City Taytay.

The 41,481 sqm mall brings SM Prime’s total floor plate to 6.4 million sqm of retail space, the largest footprint in the country.

“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,” SM Prime President Hans T. Sy said.

Sy noted the malls “boost asset values in surrounding areas” and also set the stage for higher growth and productivity, as well as create jobs.

“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 said.

SM Prime built its very first mall in 1983 on North EDSA. Now, it has 50 malls, including three of the world’s largest malls – SM Megamall, SM North Edsa and SM Mall of Asia with a combined GFA of 1.4 mn sqm.

SM Prime earlier said it is planning to open more than 30 malls in the next five years in the Philippines and China.

(abscbn)

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