LISTED property company SM Prime Holdings Inc. is opening its first premier mall in Puerto Princesa, Palawan today, Friday, September 15, as part of its expansion to areas outside of Metro Manila.
SM City Puerto Princesa, a three-storey “resort-style complex,” will open with 80 percent of its space leased.
The mall features around 180 food and retail shops, three 158-seater digital cinemas and two 48-seater Director’s Club cinemas, and a traveler’s lounge.
“Designed to complement the tropical vibe of the island, SM City Puerto Princesa is set to be a cost-efficient and energy saving building, in line with SM Prime’s commitment to sustainable future and disaster risk reduction,” SM Prime said in a statement.
“We take pride in opening the 64th mall of SM Prime in one of the most sought-after island destinations in the world. We expect SM City Puerto Princesa to add new dynamics and opportunities to the thriving province of Palawan highlighted by SM’s pursuit of new and unique malling experience,” SM Prime President Jeffrey C. Lim said in a statement.
The opening of SM City Puerto Princesa, which has a gross floor area of 54,000 square meters, brings the Sy-led property developer’s retail space in the country to 7.9 million square meters.
So far this year, the company has launched SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry Antipolo in Rizal; and is set to launch SM Center Tuguegarao Downtown in Cagayan Valley within the year as well.