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Friday, March 29, 2024

SM Prime opens first shopping mall in Caloocan City

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SM Prime Holdings Inc., one of the leading integrated property companies in Southeast Asia, on Friday opened its first shopping mall in Caloocan City and its 55th in the country.

SM Prime said in a statement SM Center Sangandaan, the company’s first shopping mall in Sangandaan, Caloocan City, has a gross floor area of 38,622 square meters, increasing the group’s total retail space to 6.825 million square meters.

“SM Center Sangandaan reflects SM Prime’s commitment to be part of the growth across communities. We are very pleased to open our first mall in Caloocan City which is a testament to the fact that Metro Manila is far from being saturated by modern retail facilities,” SM Prime president Hans Sy said.

SM Center Sangandaan is strategically located along the busy intersection of Samson Road and A. Mabini Street Sangandaan. This will give SM Prime access to the northern tip of Metro Manila, bringing a unique shopping experience closer to the highly dense cities of Malabon, Navotas and Caloocan.

SM Center Sangandaan is the fifth SM mall to be opened this year, after Cherry SM on Shaw Boulevard with a GFA of 24,165 sqm and SM City Cabanatuan. 

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SM Prime senior vice president and chief finance officer Jeffrey Lim said the company was also set to open SM Seaside City Cebu on Nov. 27, 2015.

The P7.5-billion SM Seaside City Cebu will the company’s fourth largest mall in the country.

SM Seaside City Cebu is a four-level circular shaped mall with gross floor area of 470,000 square meters. It is situated within the 30-hectare South Road Properties also being developed by SM Prime.

The development of SM Seaside complex was patterned after the 60-hectare SM Mall of Asia Complex in Pasay City. Aside from a huge shopping mall, the complex will also have a convention center, hotel, BPO office buildings and a sports/concert arena.

By the end of 2015, SM Prime will have 56 malls in the Philippines and six in China with an estimated combined gross floor area of 8.301 million square meters.

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