SM Prime Holdings Inc. is set to open this week its 57th mall, this time in San Jose Del Monte, Bulacan, further increasing the company’s footprint in the retail space.
The company said this will be the third in the province after SM City Baliwag and SM City Marilao. Its new mall will add 101,000 square meters in gross floor area, which will bring SM Prime’s total retail space to 7.4 million sq m, the largest footprint in the country.
“We continue to expand in the provincial areas as we remain optimistic about their huge potential for growth. The opening of SM City San Jose Del Monte in Bulacan is a testament to this strategic direction, as we remain steadfast in developing premier destinations around the country,” SM Prime President Hans Sy said.
The new Bulacan mall is located along Quirino Highway in Bulacan, connected to the cities of Quezon and North Caloocan.
San Jose Del Monte is a second-tier city with predominantly middle-income households of which 62 percent have family members who are overseas Filipino workers. The city contributes to one of the fastest-growing residential and commercial hubs in the Northern Gateway of Metro Manila, covering 59 barangays and a population of almost 500,000, based on the 2010 census.
The mall opens with 70 percent of space lease-awarded occupying its three floors with retail stores, dining outlets, recreation and entertainment facilities, and service centers topped with commendable architectural design, making it the newest vibrant urban hub in the north of Metro Manila. The prime spaces are allocated to local and international retail brands, food outlets and anchor brands owned by SM, including its department stores and supermarket, appliance and hardware, among others.
A multilevel basement parking, with 912 parking slots, is also provided for mall-goers’ convenience.
By the end of 2016, SM Prime is targeting to have 61 malls in the Philippines and six in China with an estimated combined GFA of 8.6 million sq m.