[ bworldonline.com ]
IN A statement issued Tuesday, the Sy-led mall operator and
property developer said SM City Legazpi will open its doors on Sept. 14.
Located along Imeda Roces Avenue in Albay, the mall will have a total
gross floor area of almost 88,000 square meters (sq.m.) and will be the
company’s second mall in Bicol following SM City Naga in Camarines Sur.
“SM Prime joins the City of Legazpi in bringing fun and adventure to
the picturesque province of Albay with the opening of SM City Legazpi…
Together with SM City Naga in Camarines Sur, this new lifestyle
destination in Bicolandia will elevate the malling experience of both
the locals and tourists with offerings from top local and global
brands,” SM Prime President Jeffrey C. Lim said in a statement.
The three-storey mall will open with 85% of its leasable space
already taken up by a mix of shopping, dining, and entertainment
concepts. Tenants will include The SM Store, SM Supermarket, SM
Appliance Center, Ace Hardware, Our Home, Watsons, Surplus, Sports
Central, Bata Shoes, Miniso, The Body Shop, Uniqlo, and Banco de Oro.
The mall will also feature a food hall with a view of Mayon Volcano, six SM Cinemas, and SM Cyberzone.
The listed firm chose to locate in Legazpi City as it is considered
Bicol’s center for tourism, education, health services, commerce, and
transportation. SM Prime also noted Legazpi, with a population of more
than 200,000 people, is one of the top provincial cities with
remittances from overseas Filipino workers.
SM City Legazpi is the fourth mall that SM Prime will be opening this
year, after SM Center Imus in Cavite, SM City Urdaneta Central in
Pangasinan, and SM City Telabastagan in Pampanga. This will bring the
company’s total mall count to 71.
SM Prime will open SM Center Ormoc in Leyte in the fourth quarter,
bringing its total to 72 stores across 9.6 million sq.m. by end-2018.
The expansion is part of the company’s goal to have 10.8 million sq.m.
of gross floor area across all its shopping malls by 2022, with around
86% located in the Philippines and the balance to be seen in China.
The company generated a net income of P16.62 billion in the first six
months of 2018, 16% higher year-on-year as consolidated revenues
likewise grew 15% to P49.77 billion for the period.
Shares in SM Prime ended flat at P36.50 each at the Philippine Stock Exchange on Tuesday. — Arra B. Francia
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