The Sy-led SM Prime Holdings Inc. has ramped up its mall expansion, opening its second mall for 2016 in line with the goal of opening five malls this year.
SM City Trece Martires, the company’s 58th mall in the country opened on Friday. The new mall is SM’s fifth mall in the province of Cavite, following SM City Bacoor, SM City Dasmariñas, SM City Rosario, and SM City Molino.
“The success of our first four malls in Cavite encouraged us to expand the malling lifestyle in the province,” said SM Prime President Hans T. Sy. “SM Trece Martires will be a great addition to the development of Cavite as we remain committed to expand towards the provincial areas.
The new mall will add 84,000 square meters of gross floor area (GFA) to SM Prime’s retail space portfolio of almost 7.5 million square meters.
SM City Trece Martires is at the corner of Governor’s Drive and Capitol Road. The city has more than 100,000 residents.
Almost 80 percent of space of the new mall has already been leased upon its opening, according to SM Prime.
The mall features anchor tenants such as The SM Store, SM Supermarket, Ace Hardware, Watsons, BDO, SM Appliance, and SM Cinema. It will also offer mall goers a 237-seat cinema and a 737-slot parking area.
Last month, SM Prime opened SM City San Jose Del Monte in Bulacan. The firm plans to open five new malls this year to reach 61 malls in the country and six in China with an estimated combined GFA of 8.6 million square meters by the end of the year.
SM Prime has 49 malls in Luzon, 20 of which are in Metro Manila, five in the Visayas, and four in Mindanao.