Property developer SM Prime Holdings Inc. said Wednesday it will open SM City Grand Central in Caloocan City on Friday.
SM Prime said in a disclosure to the stock exchange SM City Grand Central will have 116,000 square meters of gross floor area across six levels of retail spaces.
“As the economy starts to reopen given the improving COVID-19 condition in major key areas in the Philippines, primarily here in Metro Manila, we are pleased to welcome customers to our newest mall, SM City Grand Central. The same standard of health and safety protocols will be implemented for a safe and comfortable shopping and dining experience when you visit an SM mall,” SM Prime president and chief executive Jeffrey Lim said.
SM City Grand Central is located at the heart of the commercial district of Caloocan with connections to various transportation terminals, including LRT 1 via Monumento Station.
The property was the former location of Ever Gotesco Grand Central Mall, which was destroyed by fire in March 2012.
The new mall will house more than 700 parking slots, four digital cinemas, two director’s club, two regular cinemas, foodcourt, Cyberzone, Department of Foreign Affairs satellite office, Chapel of Our Lady of the Most Holy Rosary, and The Skylight Park indoor garden.
SM City Grand Central will also offer an indoor park that will offer a breather from the bustling city scene while enjoying al fresco dining in style and self-care activities in its health and wellness zone.
“As when this pandemic started, SM will continue to support the government’s COVID-19 response program so that we can all look forward to a better and brighter year ahead,” Lim said.
SM Prime reported a 9-percent increase in consolidated net income in the first three quarters to P 15.6 billion from P14.4 billion in the same period last year despite the 6-percent drop in consolidated revenue to P56.8 billion from P60.7 billion.
The share price of SM Prime rose 1.76 percent Wednesday to P37.50.