SM to open 7 malls next year

ABS-CBN News

Posted at Aug 29 2016 04:33 PM

MANILA - SM Prime Holdings plans to open seven new shopping malls next year as it continues to develop malls in provincial areas.

The new malls will add a total of 293,930 sqm in additional leasable space to bring its total mall leasable area to 7.95 million sqm, the company said in a recently held forum.

The biggest mall expected to open in 2017 will be in Cagayan de Oro with 81,133 sqm, followed by SM malls in Puerto Princesa and SM Urdaneta, it added.

The Sy-owned retail giant will also put up malls in Ormoc, Tuguegarao, and Antipolo. The company will have 67 malls nationwide by the end of 2017.

READ: Sy, Gokongwei, Aboitiz lead Philippines' billionaires club: Forbes