SM to open 3 new malls

SM Prime Holdings Inc. (SMPHI) will open three new SM Supermalls this year as it continues to bet on the economy’s recovery following the onslaught of the COVID-19 pandemic.

This will bring the total number of SM malls in the Philippines to 79.

SMPHI president Jeffrey Lim said two of the three new SM malls are located in Luzon – SM City Daet in Camarines Norte and SM City Grand Central in Caloocan City.

The third mall, located in the Visayas, is SM City Roxas in Capiz, Lim said.

Lim said the opening of the new malls signifies SM’s strong position in mall development business and attractiveness of the Philippines market to both local and foreign retailers despite the pandemic.

Responding to the government’s call for private sector support in the fight against the pandemic, the Sy Group has assigned select SM malls as hosts to the government’s vaccination program to help curb the spread of COVID-19.

These SM malls provide convenient and easy access venues for groups or individuals identified as priority by the government, the company said in a statement.