SM Prime Holdings Inc., the country’s largest property developer, opened on Friday its first mall in Cagayan Valley region, the first of two malls SM Prime is opening this year. In a disclosure filed at the Philippine Stock Exchange on Friday, SM Prime said it has already opened SM City Cauayan in Isabela province, its first mall in the Cagayan Valley region and SM Prime’s 49th mall in the country. “We are excited about the opening of SM City Cauayan which is situated at the industrial and commercial hub of the Cagayan Valley region. We look forward to serving thousands of our countrymen as we continue to expand in various regions of the country which offer so many opportunities for growth,” SM Prime president Hans Sy said told the local bourse. With a gross floor area of about 66,299 square meters, SM City Cauayan is the first of two malls the company is set to open within the year. The next mall to be opened under the SM brand is SM Angono, while the expanded SM Bacolod and SM Lipa are also scheduled for re-opening within this year.