Saturday, March 18, 2023
SM Prime expands network with 4 new malls set to open in 2023
SM Prime Holdings Inc., the integrated property developer owned by the Sy family, is set to continue its expansion in the Philippines and China with the opening of four new malls in 2023.
With a proven track record of delivering world-class retail spaces, SM Prime Holdings is well-positioned to meet the growing demand for high-quality shopping experiences in these regions.
The new malls set to open this year include SM City Bataan, SM Center San Pedro, and SM City Sto. Tomas in the Philippines.
In addition to these, the company is also set to launch a new mall in Yangzhou, China.
Collectively, these developments will provide 0.2 million square meters of gross floor area, adding to the company’s existing portfolio of retail spaces that meet the evolving needs of its customers.
With these new developments, SM Prime will further bolster its already impressive network, which currently consists of 86 malls in the Philippines and China.
In 2022, SM Prime Holdings opened four new malls, including SM City Roxas, its first mall in Capiz Province, SM City Tanza in Cavite, SM City Sorsogon, and SM City Tuguegarao in Cagayan Province. These new developments have allowed the company to expand its reach and continue to provide exceptional retail experiences to customers across the region.
SM Prime’s residential arm SMDC is also planning to expand its operations in the provinces to help bridge the housing gap. With 18 residential developments already in key provincial cities, the company is well positioned to meet the growing demand for high-quality housing in these regions.