SM malls now number 84 with latest in Laguna
MANILA – Sy-led property giant SM Prime Holdings Inc. will open today, Oct. 13, its 84th mall in the country, the SM Center San Pedro in Laguna.
Located along U.B. Main Road, Barangay United Bayanihan, San Pedro City, the shopping center also marks the opening of its fourth mall in the province.
“SM Center San Pedro is SM Prime’s 84th mall in the Philippines and 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,” SM Prime president Jeffrey Lim said in a statement.
With the strong recovery of malls since the pandemic, the shopping center is now 90-percent leased out.
SM Center San Pedro will feature a host of shopping, dining and entertainment hubs, including SM Hypermarket, SM Appliance, Ace Hardware, Miniso and Watsons. “[W]ith its ideal location, [it] aims to converge business, leisure and entertainment that will enhance economic and civic activities,” Lim said.
SM Prime had recorded in the first half of the year a 38-percent profit spike to P19.4 billion as revenues grew 29 percent to nearly P60 billion. Gains during the period were driven by its shopping malls segment, which accounted for over half of revenues.
