Property developer SM Prime Holdings Inc. (SMPH) is set to open its first shopping mall in Ilocos Norte province on Friday, the company’s 88th mall in the Philippines.
SM City Laoag is located along Airport Road close to the city center and Laoag International Airport. The mall is also near commercial areas and residential developments.
The mall has three levels and more than 51,000 square meters of space for shops. About 90 percent of the space is already leased. The mall is expected to create around 4,000 jobs for Ilocanos.
“The opening of SM City Laoag reinforces our commitment to bring modern, accessible and community-oriented retail experiences to underserved but fast-growing areas,” said SM Prime president Jeffrey Lim.
“We’re excited to support the region’s economic momentum,” he said.
Ilocos Norte had an economic growth rate of 8.6 percent in 2024. This was the fastest growth among provinces in Region I. The growth came from services, accommodation and transport.
SM City Laoag will include SM Store, SM Supermarket, SM Cinema, Ace Hardware, Pet Express, Miniso and BDO. Other brands include Levi’s, Columbia, Adidas, Watsons and Parfois. Dining options will include TGI Fridays, Vikings, Marugame Udon, Café Amian and Milk Pot.
The mall will also have an open-air park called “Dap-ayan.” It is named after the Ilocano word for gathering place and will host events and leisure activities.
SMPH is also studying a complementary hotel development in Laoag to tap into the area’s growing tourism and MICE potential, expanding its footprint beyond retail in Northern Luzon.
Aside from SM Laoag, SMPH also plans to open more malls this year. These include new malls in La Union, Zamboanga City, and Sta. Rosa, Laguna.
The company also plans to redevelop at least 10 existing malls.