Property giant SM Prime Holdings Inc. inaugurated its 60th mall in the Philippines on Friday, its fourth new mall this year.
In a disclosure to the Philippine Stock Exchange, SM Prime said it opened SM City East Ortigas in Pasig City on Friday.
“This latest destination adds more than 80,000 square meters (sqm) in gross floor area (GFA) and is suited to offer a fresher and more colorful vibe in the eastern part of Metro Manila,” the company said.
SM City East Ortigas is 80 percent leased out. “The two-level mall will house SM’s flagship retail brands The SM STORE and SM Supermarket; and its specialty stores such as Uniqlo, Watsons, SM Appliance Center, and Ace Hardware,” SM Prime noted.
“This mall is set to redefine shopping and entertainment, particularly in the eastern part of Metro Manila,” SM Prime President Jeffrey Lim said. “Our new mall reinforces our commitment to continue expanding in the country, given the economy’s strong performance.”
SM City East Ortigas brings the company’s Philippine mall portfolio to 60, of which 22 are in Metro Manila, 29 in Luzon outside of Metro Manila, five in the Visayas and four in Mindanao.
The company has six malls in China, which brings SM Prime’s combined GFA to 8.6 million square meters.