MANILA, Philippines—Retail giant SM Prime Holdings Inc. opened its 43rd shopping mall in the country, SM City Consolacion in Cebu, last Friday, June 1.
It is the second of three malls the group wants to have in the bustling province of Cebu.
The mall, with a gross floor area (GFA) of 106,857 square meters, is located on Cebu North Road, Barangay (village) Lamac, Consolacion, Cebu.
It is SM Prime’s second mall in the province, after SM City Cebu, which opened in November 1993 and is 11 kilometers away.
The group’s third Cebu mall will be built on the reclaimed South Road Properties (SRP) area, expected to be opened in the third quarter of 2014.
“We warmly welcome all our valued customers to our newest and second mall in Cebu, SM City Consolacion,” SM Prime president Hans Sy said last week.
“The region of Cebu remains to be a key expansion area for SM malls. This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth,” Sy said.
SM City Consolacion has a leasable area of 57,842 sqm, 89 percent of which has already been awarded to various tenants. The shopping mall’s anchor tenants are SM Department Store and SM Supermarket.
Among the quick service restaurants located in the mall are Jollibee, Chowking, Greenwich, Red Ribbon, Pizza Hut, KFC and Mang Inasal.
Food restaurants serving local Cebuano cuisine such as Chika-an Sa Cebu and Jonie’s Chicken are likewise tenants of SM City Consolacion.
Other mall tenants include BDO, Watsons, Ace Hardware, National Bookstore, Ideal Vision, Bench and Penshoppe.
The mall’s many amenities also include a Cyberzone for tech-related stores; a food court for close to 700 diners; four cinemas, with a combined seating capacity of 1,488; and parking for 700 vehicles.
The company, meanwhile, bared details for its planned mall at the SRP area, recognized as one of the growth areas for Cebu.
The SRP mall “will boast of a gross floor area of 241,600 sqm, making it Cebu’s biggest mall and fourth among SM malls,” the company said.
For the rest of 2012, SM Prime is scheduled to open SM City San Fernando in Pampanga, SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, and SM Chongqing in China.
By the end of this year, SM Prime will have 46 malls in the Philippines and five in China.