SY-led SM Prime Holdings, Inc. is set to open a new mall in San Pedro City, Laguna on Oct. 13, marking its 84th mall in the country.
In a regulatory filing on Wednesday, the listed property developer said that SM Center San Pedro is its fourth mall in Laguna province, joining SM City Sta. Rosa, SM City San Pablo, and SM City Calamba.
SM Prime President Jeffrey C. Lim said the new mall “is set to provide further opportunity for the company to expand its brand of service and convenience to more Filipinos in the south, specifically in Laguna and nearby towns of Cavite.”
He added that the mall, “with its ideal location, aims to converge business, leisure and entertainment that will enhance economic and civic activities in the area.”
SM Center San Pedro is situated along U.B. Main Road, Brgy. United Bayanihan.
According to SM Prime, the mall will open with almost 90% of space lease-awarded, sharing three levels of shopping, dining, and entertainment hubs, including the company’s SM Hypermarket, SM Appliance, Ace Hardware, Miniso, Watsons, Simply Shoes, Pet Express, and BDO.
It will also feature an SM Foodcourt, Cyberzone, indoor plaza, and parking areas.
In the first half, SM Prime recorded a 38% increase in consolidated net income to P19.4 billion from P14.1 billion a year ago due to higher revenues.
Shares of SM Prime on Wednesday rose 10 centavos or 0.32% to P31.10 apiece. — Revin Mikhael D. Ochave