SM opens mall in Ortigas
Posted on December 03, 2016
http://www.bworldonline.com/content.php?section=Corporate&title=SM-opens-mall-in-Ortigas&id=137235
SM Prime Holdings, Inc. has opened its newest mall, SM City East Ortigas, on Friday with almost 80% of its space leased out, the Sy-led integrated property company said in a regulatory filing.
The new mall adds more than 80,000 square meters (sqm) in gross floor area to the company’s mall space offering. SM Prime described the mall as “suited to offer a fresher and more colorful vibe in the eastern part of Metro Manila.”
The two-level mall houses SM’s flagship retail brands The SM Store and SM Supermarket, as well as specialty stores Uniqlo, Watsons, SM Appliance Center and Ace Hardware. It is the latest addition to SM Prime’s roster in Metro Manila’s east side, which also has SM Megamall in Mandaluyong, SM Center Pasig and SM Marikina.
The mall attests to the growth of the metro’s eastern portion, which previously saw the opening of SM Taytay, SM Masinag, SM Angono and SM San Mateo in Rizal province.
SM City East Ortigas will also have Cyberzone, wellness tenants, four digital cinemas and four “director’s club” cinemas. It has 650 parking slots for shoppers.
Ahead of SM City East Ortigas’ opening, SM Prime launched SM-Cherry Congressional on Nov. 25 in Quezon City with around 13,000 sqm in gross floor area.
In April, it opened SM City San Jose Del Monte in Bulacan with 101,000 sqm in gross floor area, followed by SM City Trece Martires in Cavite in May with 84,000 sqm.
SM City East Ortigas brings SM Prime’s mall count to 60 in the Philippines, 22 of which are in Metro Manila, 29 in Luzon outside of the capital, five in the Visayas and four in Mindanao. It also has six malls in China. In all, these malls have a combined gross floor area of 8.6 million sqm.
On Thursday, shares in SM Prime fell by 2.19% to P26.80 each from P27.40 previously.
