MANILA, Philippines - Mall developer and operator SM Prime Holdings Inc. will open its first shopping center in Olongapo, Zambales on Friday.
In a statement, SM Prime said SM City Olongapo has a gross floor area (GFA) of 46,869 square meters and leasable area of 22,462 sqm, of which 81% has already been awarded to tenants.
The major tenants are SM Department Store and SM Supermarket, while others include Banco De Oro, Watsons, Ace Hardware, National Bookstore and Jollibee.
SM City Olongapo’s major amenities consist of an al fresco dining area, which offers a view of Olongapo’s mountain landscape; three cinemas, with a combined seating capacity of 758; and parking slots for over 300 vehicles.
Olongapo sits right next to the Subic Bay Freeport Zone, a former United States naval base that is now a major industrial, tourism, and logistics hub.
SM City Olongapo brings to 42 the total number of SM malls all over the country, with a combined GFA of 5 million sqm. For the rest of 2012, SM Prime is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.
By the end of this year, SM Prime will have 46 malls in the Philippines and five in China, with an estimated combined GFA of 6.3 million sqm.