THE country’s biggest mall developer sees a lot more room for retail establishments in Metro Manila.
“Metro Manila is far from being saturated by modern retail facilities,” said Hans Sy, president of publicly listed SM Prime Holdings Inc., after the company opened its fifth mall this year in Caloocan City.
Dubbed SM Center Sangandaan, the newest in the chain of SM malls has a gross floor area of 38, 622 square meters, bringing SM Prime’s total retail space to around 6.83 million square meters, the largest by a single developer in the country.
The SM Center Sangandaan is located along the busy intersection of Samson Road and A. Mabini Street within the Sangandaan area in Caloocan City.
Sy said the new mall is already 90-percent taken up by tenants, including anchor stores SM Supermarket, SM Appliance Center, SM Cinema, Ace Hardware, Banco de Oro, and Watsons.
“SM Center Sangandaan reflects SM Prime’s commitment to be part of the growth across communities,” said Sy. “We are very pleased to open our first mall in Caloocan City.
SM Center Sangandaan is the fifth SM mall to be opened this year, after Cherry SM on Shaw Boulevard in Mandaluyong City and SM City Cabanatuan.
The company said it is set to open in November its sixth mall this year, the SM Seaside City Cebu.
By the end of 2015, SM Prime will have 56 malls in the Philippines and six in China.