SM opens 2nd mall in CDO

Property giant SM Prime Holdings has expanded its footprint in Mindanao with the opening of a lifestyle-oriented shopping mall in Cagayan de Oro (CDO).

SM CDO Downtown Premier, which is set to open today, will add almost 178,000 square meters (sqm) of gross floor area to the group’s total retail footprint.

“SM Prime is one with the government in creating more opportunities that highlight the economic growth potential of Mindanao. The opening of SM CDO Downtown Premier, which is at the gateway of Northern Mindanao, is our second SM mall in Cagayan de Oro, and fifth in Mindanao which reflects our commitment and confidence to this part of the country,” SM Prime president Jeffrey Lim said in a press statement on Thursday.

About 87 percent of retail space in SM CDO Downtown Premier has been awarded to tenants.

The SM CDO Downtown Premier complex also has an eight-level office building catering to business process outsourcing (BPO) companies.

SM Prime is scheduled to open four more malls in the Philippines this year. —DORIS DUMLAO-ABADILLA