Quantcast
Latest Stories

SM to expand Bacolod mall

By

MANILA, Philippines — SM Prime Holdings is investing close to P1.4 billion to expand its  shopping mall in Bacolod City, the capital of Negros Occidental.

In a disclosure to the Philippine Stock Exchange on Tuesday, SM Prime said the expansion would be done in two phases starting this year through 2014 and will involve the construction of an annex building, which will add 102,043 square meters of gross floor area (GFA) to the main SM City Bacolod mall.

This will bring total gross floor area in the Bacolod mall to 171,380 square meters . The annex will offer 81,204 square meters of gross leasable area and is expected to provide employment for an additional 2,000 people, the disclosure said.

SM Prime president Hans Sy said this expansion was SM Prime’s way of “paying tribute to the residents of Bacolod City and of nearby areas.”

“This expansion clearly manifests SM Prime’s steadfast commitment to assist in the further development and progress of the city through increased tax payments to the local government, as well as by providing residents an improved destination mall and a highly viable venue for business and commerce. Our continuing business expansion only affirms our commitment to provide for better retail facilities and services in cities and municipalities that are fast emerging from greater economic stability fueled by remittances from overseas workers and the growth in the business process outsourcing [BPO] sector,” Sy said.

The mall is located on Rizal Street in the Reclamation Area of Bacolod City. SM Prime first opened in Bacolod in March 2007, its third mall in the Visayas, in addition to existing SM City Cebu and SM City
Iloilo.

SM City Bacolod originally had 71,759 square meters of gross floor area and was divided between two structures—Buildings A and B—anchored by SM Department Store and SM Supermarket. There are also
Bacolod-based tenants such as Deco’s La Paz Batchoy, Bob’s Restaurant, and Chicken Deli.

The Sys have already invested P1.6 billion in the existing mall in Bacolod which currently provides employment to 3,000 people.

Bacolod City is also referred to as the City of Smiles and is known for its  MassKara Festival held every October. Bacolod City was cited for having the most business-friendly local government unit in the Visayas for 2006. The city is a major venue for commerce and finance in the province and hosts several notable BPO companies.

Bacolod enjoys a “hall of fame” status as the cleanest and greenest highly urbanized city in the Philippines.

Earlier this year, SM Prime opened SM City Olongapo in Zambales. For
the rest of 2012, SM Prime is scheduled to launch SM City Lanang in Davao City, SM City General Santos in South Cotabato, SM City Consolacion in Cebu, SM City San Fernando in Pampanga and SM Chongqing in China.

By the end of 2012, SM Prime expects to have 46 malls in the Philippines and five in China with an estimated combined gross floor area of 6.3 million square meters.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , News , Real Estate , Retail Trade , Shoppng Malls , SM , Stock Market



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Intrigues mar signing of Bangsamoro draft law
  • Singson apologizes for delay in Edsa road repairs
  • Congressmen seek end to small-town lottery operations
  • 16-year-old survives in wheel well of US flight
  • MMDA to blame for delay of Edsa reblocking – DPWH exec
  • Sports

  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Ageless Hopkins pitches 50-50 Mayweather deal
  • Goodbye MGM, Las Vegas for Pacquiao?
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • Lindsay Lohan says she had a miscarriage
  • Discovery network cancels Everest jump
  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Solenn in shorts
  • Business

  • Oil prices down in quiet Asian trade
  • Asian shares mixed in holiday-thinned trade
  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Golden Week
  • Technology

  • PH has slowest internet in Southeast Asia
  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Filipinos in Middle East urged not to panic amid MERS-CoV scare
  • Obama on mission to quiet Asia skeptics
  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • Marketplace