SM Prime Holdings has announced that it will open three new shopping malls as well as expand several existing malls in 2021. The planned mall launches and expansion projects will bring the total number of SM malls in the Philippines to 79 and add around 367,000 square meters of gross floor area to the company’s portfolio.
Two of the new shopping malls will be located in Camarines Norte and Caloocan city which is in Luzon while the other new mall will be located in Capiz in the Visayas region.
The opening of the new malls represents SM’s strong position in mall development in the country as well as the attractiveness of the Philippine market to both local and foreign retailers. Furthermore, SM has also assigned its malls as hosts to the vaccination program of the government.
(Sources: SM Prime Holdings; The Philippine Star)