October 24, 2024 | 12:00am
MANILA, Philippines — SM Prime Holdings Inc., the integrated property developer of the Sy family, is banking on the economic growth of Central Visayas as it expands its mall presence in the region.
“The opening of SM City J Mall reflects our confidence in the robust economic growth of Central Visayas,” SM Prime president Jeffrey Lim said.
Citing data from the Philippine Statistics Authority, SM Prime said Central Visayas posted the highest economic growth rate among the country’s 17 regions in 2023, expanding by 7.3 percent.
“Our expansion into thriving regional hubs like Mandaue City is integral to our strategy of driving economic progress across the Philippines and delivering sustainable value to our stakeholders,” Lim said.
SM Prime is opening the SM City J Mall tomorrow. This is the company’s fourth mall in Metro Cebu, eighth in the Visayas and 87th in the Philippines.
SM City J Mall is a four-level mall that has over 100,000 square meters of gross floor area offering a diverse mix of retail, dining and entertainment options.
“This new mall is designed to cater to the increasing demand for premium commercial and lifestyle experiences in Mandaue City,” Lim said.
SM Prime said it has seen strong tenant demand, with the new mall already pre-leased approximately 80 percent of its gross leasable area.
Anchor tenants include The SM Store, SM Hypermarket, SM Appliance Center, Watsons, Uniqlo, Levi’s, Miniso, Pet Express, Sports Central, Ace Hardware, BDO and Chinabank.
SM City J Mall will also feature two director’s club cinemas, a curated food hall and unique lifestyle services.
On top of the upcoming SM City J Mall, SM Prime is also eyeing to open two additional malls this year – SM City San Fernando La Union and SM City Laoag.
SM is targeting to have a portfolio of 100 malls in the country by the end of 2027 as it looks to further solidify its dominance in the Philippine retail landscape.
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