SM Prime Holdings Inc., one of the largest integrated property developers in Southeast Asia, is set to open this Friday its 71st mall in the country in Legazpi City, Albay.
SM Prime said in a disclosure to the stock exchange SM City Legaspi would be the company’s biggest mall in Bicol region with 88,000 square meters of gross floor area.
“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. To date, this is the company’s biggest mall in the Bicol Region. 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 Lim said.
SM City Legazpi will open with 85-percent of space lease-awarded. It has three levels of shopping, dining and entertainment offerings.
The mall will feature green architecture, accentuated by a vast glass-walled SM Food Hall that overlooks the splendor of Mayon Volcano, where mall goers get to enjoy crave-worthy food choices. The mall will also have SM Cyberzone and six SM Cinemas.
SM Prime opened three other malls this year, including SM Center Imus in Cavite, SM City Urdaneta Central in Pangasinan and SM City Telabastagan in Pampanga.
SM Prime will open another this year, SM Center Ormoc in Leyte.
SM Prime targets to have 9.6 million sqm of shopping mall GFA by end-2018.
SM Prime recently unveiled its 2020 Roadmap that involves the continued expansion of its mall, residential, hotels and office developments.
It aims to have 10.8 million sqm of GFA of shopping space, 10 office towers of 793,000 sqm of leasable space, 2,460 hotel rooms from 10 projects and 82 residential projects by 2020.
SM Prime currently has 1,279 hectares in its land bank in 139 sites.