SM Prime mall portfolio to increase 116K sqm

By November 26, 2021Property News

By Faye Almazan | The Manila Times
November 26, 2021


SM Prime Holdings Inc. expands its mall portfolio with the scheduled opening of SM Grand Central in Caloocan City.

In a disclosure, the listed property arm of SM Investments Corp. said the new development will increase their mall portfolio by over 116,000 square meters of gross floor area.

SM Prime said the new mall will provide six levels of retail spaces and will open with more than 70 percent of space lease awarded.

The company added that the development will have more than 700 parking slots, four digital cinemas, a food court, a cyberzone, a chapel and a satellite office of the Department of Foreign Affairs.

The mall will also feature The Skylight Park indoor garden, which SM Prime said is the “first of its kind.”

SM Grand Central is poised to open on Friday, November 26.

“As the economy starts to reopen given the improving Covid-19 condition in major key areas in the Philippines, primarily here in Metro Manila, we are pleased to welcome customers to our newest mall, SM City Grand Central,” SM Prime President Jeffrey Lim said in the disclosure.

“The same standard of health and safety protocols will be implemented for a safe and comfortable shopping and dining experience when you visit an SM mall,” Lim continued.

SM Prime netted P15.6 billion in January to September, up 9 percent from the P14.4 billion it recorded in the same period last year.

Shares of SM Prime declined by 45 centavos or 1.2 percent to close at P37.05 apiece on Thursday.