SM Prime allots P80b, to launch three new malls


By: Manila Standard

Property developer SM Prime Holdings Inc. said over the weekend it earmarked P80 billion in capital expenditures as it plans to open three new shopping malls and expand four this year.

SM Prime said in an investor presentation it would open SM City Grand Central in Caloocan City, SM City Daet in Camarines Norte and SM City Roxas in Capiz.

SM City Grand Central located along Rizal Ave. near the Light Rail Transit Line 1 Station in Monumento will replace the former Ever Gotesco Grand Central which was destroyed by fire in March 2012.

SM Prime also plans to complete the expansion of SM Urdaneta Central, SM City Sta. Rosa, SM City Cauayan and SM Mall of Asia Ikea.


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