Posted on
November 24, 2015 09:25:00 PM [ Businessworld Online ]
By Louine
Hope U. Conserva, Correspondent
ILOILO CITY
-- SM Prime Holdings, Inc. is bullish about expanding its network of malls in
the Visayas, as it is set to open the country’s fourth biggest mall in Cebu on
Friday.
THE LOGO of
SM Prime Holdings, Inc. is seen in this file photo. -- BW FILE PHOTO
“It is going
to be one of the biggest malls in the whole Philippines. That will be the
biggest mall in the whole Visayas,” said Steven T. Tan, senior vice-president
of SM Supermalls, at the recent opening of the new wing of the SM City in
Iloilo.
Mr. Tan said
they are looking at making more investments in other parts of the Visayas,
where they see growth in the local economies.
“We’re very
bullish on the Visayan market because we really feel that it has still so much
potential for growth,” he said.
The SM City
Iloilo’s new north wing building, which cost P1.3 billion, has four levels with
a total floor area of 21,124 square meters (sqm.) intended for additional
retail shops, dining establishments and gaming space.
With a land
area of 170,000 sqm., SM City Iloilo is the largest mall in the Western Visayas
region.
Iloilo City
Rep. Jerry P. Trenas said SM’s expansion reflects the economic upturn of the
city.
“The past
five years have been a testament of the rapid development of Iloilo. I foresee
more commercial spaces to be constructed here and hopefully we will have a
market for all of them,” he said.
In Bacolod
City, the SM City mall was also recently expanded with the addition of SMX
Convention Center.
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