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SM Prime opens its 47th mall

Posted on May 16, 2013 11:26:56 PM [ BusinessWorld Online ]
SY-LED SM Prime Holdings, Inc. yesterday opened SM Aura Premier in Taguig City, the company’s 47th mall in the Philippines.
SM PRIME, Inc. President Hans T. Sy tosses coins to well-wishers as the company opened its latest mall in the Philippines, SM Aura Premier, in the city of Taguig yesterday. -- Jonathan L. Cellona
SM Aura, which has a gross floor area of 234,892 square meters, according to a statement attached to the company’s disclosure yesterday.
SM Aura incorporates office towers, a chapel, a convention center, and mini-coliseum, among other features.
“We are glad to be given this opportunity to work with the City of Taguig in building a state-of-the-art… center which will redefine the city’s landscape,” SM Prime President Hans T. Sy was quoted in the statement as saying.
“We support Taguig’s bid to be a world-class city as SM Aura is an innovative concept with its fashion, dining, entertainment, business and lifestyle selections and ground-breaking architecture and first-rate design that will appeal to other cities that want to showcase their best for the world to see.”
Besides its standard tenants, SM Department Store and SM Supermarket, as well as a Trade Hall, Foodcourt, two regular Cinemas, two Director’s Clubs and an IMAX Theater, the new mall also houses a convention center that has three main function rooms and eight meeting rooms.
SM Aura also offers dining experiences with NBA Café, Trattoria Chef Chris, Boulangerie Paul, and Todd English Food Hall, as well as restaurant brands like Lugang Café and Yabu.

In cooperation with Manila Hotel, SM Aura also plans to bring in the Champagne Room at the terrace of SM Aura’s Sky Park to provide a venue for elegant gatherings and celebrations.
To enhance shopping experience, SM Aura will also provide global brands opening in the Philippines for the first time such as Suiteblanco, Stefanel, Minelli, TM Lewin, J. Lindberg, B.B. Dakota and River Island for fashion.
The mall also incorporates “green” designs, as well as energy-efficient equipment and fixtures that will cut energy and water use by as much as 19% and 30%, respectively, compared with conventional buildings, the statement added.
Among others, waste water will be treated on site to be reused for non-potable purposes.
Moreover, a third of construction materials budget was used for building products that are either locally sourced or have high recycled content.
“SM Prime, through SM Aura, has a remarkable opportunity to lead the shift to sustainability in buildings. SM Aura has set a higher standard with high performance technologies that use less energy, consume less water, and leave a smaller footprint on the city’s resources,” Mr. Sy said.
SM Aura Premier brought the total number of SM malls to 47 all over the country, with a combined gross floor area of 5.9 million square meters.
SM Prime is also scheduled to launch SM City BF Parañaque later this year, the statement also said.
Moreover, SM Megamall in Mandaluyong City will be expanded with the opening of “Building D” also this year.
“By yearend, SM Prime will have 48 malls in the Philippines and five in China with an estimated combined gross floor area of 6.9 million square meters,” SM Prime said in its statement.
SM Prime’s net income rose by 14.14% to P2.890 billion in the first quarter from P2.532 billion in the same three months last year.
In the same comparative periods, revenues went up by 11.30% to P7.830 billion from P7.035 billion, while expenses grew by 11% to P3.60 billion from P3.24 billion.
SM Prime Chief Financial Officer Jeffrey C. Lim told reporters last month the company plans to spend P88 billion in the next three years to build new malls in the Philippines and China.
According to the official, SM Prime expects to spend about P35 billion this year; P26 billion next year; and P27 billion for 2015.
Half of the budget, he had said, will be financed by debt.
Shares of SM Prime added 10 centavos or 0.49% to close at P20.70 apiece yesterday from P20.60 each on Wednesday. -- C. H. C. Venzon

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