Property developer SM Prime Holdings Inc. is expanding its footprint with the opening of a new mall in Tuguegarao City on Friday.
SM Prime said in a disclosure to the stock exchange Wednesday the two-level SM City Tuguegarao, the group’s 82nd mall in the country, has 62,00 square meters of gross floor area. It also owns seven malls in China.
“We are very glad to be in the Cagayan province once again as it has been five years since we opened our first mall here, SM City Tuguegarao Downtown. We hope that with the opening of SM City Tuguegarao, we add to the vibrancy of the local scene, and attract more visitors and economic activities in this developing city and the entire Cagayan province,” said SM Prime president Jeffrey Lim.
SM City Tuguegarao will open with 85 percent of space lease awarded to tenants. It will feature a mix of local and international shopping and dining destinations led by SM Group’s anchor tenants such as The SM Store, SM Supermarket, Ace Hardware, Pet Express, Sports Central, Our Home, SM Appliance Center, Watsons, Surplus and BDO.
SM City Tuguegarao, located at Bagay Road in Barangay Caritan Norte, will have five SM cinemas, food court, wellness zone, zyberzone, almost 2,000 carpark slots and transport bays.