SM Prime Holdings Inc. is said to open four new malls this year as part of their plans to further expand and improve consumers’ mall experience. The company earlier announced that it was setting aside P65 billion in capital expenditures this year, bulk of which (around 52 percent) would be used for its mall expansion projects.
“We will surely open four more branches this year. We have the San Jose Del Monte (Bulacan), the Trece Martirez, East Ortigas and the one in Cherry Foodarama where we will have a mall,” said SM Prime Holdings president Hans Sy.
Aside from the new malls, Sy said the company is also gearing up to expand Mall of Asia. SM Prime currently has a total of 56 malls in the Philippines and six in China, which when combined has an estimated GFA of 8.3 million sqm.
Source: Philstar
