MANILA - SM Prime Holdings said Wednesday it would open this week a "premiere" mall in Puerto Princesa City, Palawan as it continues its local expansion.
The 54,000-square meter, resort-themed SM City Puerto Princesa will be the developer's 64th mall, the company owned by the country's richest man, Henry Sy, said.
SM has used the "premier" tag to indicate upscale retail. It recently opened SM CDO Downtown Premier in Cagayan de Oro City and operates SM Lanang Premier in Davao City.
The flagship premier mall, SM Aura, is located in the Fort Bonifacio commercial district in the capital. Another high-end retail complex, S Maison, is located within the company's Conrad Hotel.
SM City Puerto Princesa will open on Friday with 80 percent of space lease-awarded, the company said.