(Source: Manila Standard | May 3, 2018)
SM Prime Holdings Inc., the country’s leading shopping mall and residential developer, opened its second mall in Pangasinan province Friday (May 4).
SM Prime said in a disclosure to the stock exchange SM City Urdaneta Central, the group’s 69th mall in the Philippines, would open with 42,000 square meters of gross floor area.
“We are excited to be a part of Pangasinan’s growing economy. As Pangasinan is at the heartland of the Philippines and the gateway to Northern Luzon, SM is a committed partner in further building on this strategic and dynamic province through SM City Urdaneta Central. This new mall complements the existing offerings of SM City Rosales, which is our first mall in Pangasinan,” SM Prime president Jeffrey Lim said.
SM City Urdaneta Central is strategically located beside the densely populated subdivisions of the city, nestled at the center of Barangay Nancayasan and Poblacion along MacArthur Highway―a main thoroughfare en route to top tourist destinations in the northern part of the Philippines. SM City Urdaneta Central is dubbed as Pangasinan’s gateway to urban shopping.
SM City Urdaneta Central will open with 84 percent of space lease-awarded, with two-floors bringing in new levels of shopping, dining and entertainment experiences to the hundred-thousand population of the city and to the millions of tourists passing through the province.
Locals and tourists can also enjoy the convenience of its 706 parking slots at the basement and open grounds.
Aside from being the third largest province in the Philippines, Pangasinan also benefits from the influx of tourists heading to Northern Luzon through the Tarlac-Pangasinan-La Union Expressway for easy access.
SM Prime is set to open three other malls in key cities this year. The company already opened SM Center Imus in Cavite on Feb. 16 and is scheduled to open SM City Telabastagan in Pampanga, SM City Legazpi in Albay and SM Center Ormoc in Leyte.
SM Prime said that by the end of 2018, it would have 72 malls in the Philippines and seven malls in China with a combined GFA of 9.7 million sqm.
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