The SM Group has opened its third mall this year in Cabanatuan in line with its aim to open five malls annually.
In a statement, property developer SM Prime Holdings Inc. said it is opening SM City Cabanatuan today, October 9.
SM City Cabanatuan is SM Prime’s 53rd mall in the country and its second mall in Nueva Ecija after it opened SM Megacenter Cabanatuan earlier this year.
The new mall will provide the Sy-led firm with an additional 154,020 square meters in gross floor area (GFA), expanding its total retail space to 6.76 million square meters in the Philippines.
SM City Cabanatuan is located along Maharlika Road in Cabanatuan City, the largest city in the province of Nueva Ecija.
“The opening of SM City Cabanatuan is SM Prime’s commitment to be a part of the growth of the province,” said SM Prime president Hans T. Sy
Sy said the opening of the new mall was very timely given the expected growth in the fourth quarter of the year.
He said the economy’s sustained GDP growth for the past five years is now spreading to the provinces and that SM Prime will also expand to these provinces as they continue to grow.
Besides the retail stores that the four-level mall has to offer, it also features two Sky Gardens, the Garden Park and the Roof Park; six cinemas with five 275-seating capacity and one 525-seating capacity; and 2,500 parking slots for cars and motorcycles.
SM City Cabanatuan is the third SM Supermall to be opened this year after the opening of SM City San Mateo in May.
The property developer is set to open more malls before the year ends, specifically SM Sangandaan in Caloocan and SM Seaside City Cebu.
The company also said it plans to expand SM City Lipa in Batangas and SM City Iloilo
before the end of the year.
By end-2015, SM Prime will have 55 malls in the Philippines and six in China with an estimated combined GFA of 8.3 million square meters.