Capitalists And Money

SM Prime to open SM City Caloocan on May 17

SM Prime Holdings, Inc. said it will open SM City Caloocan on May 17, the first of four new mall openings planned for this year.

SM City Caloocan has over 94,000 square meters of gross floor area and three levels of mixed-use commercial space consisting of dining, shopping, and entertainment spots, SM Prime said in a statement to the stock exchange on Wednesday.

SM City Caloocan will be the company’s 86th mall in the Philippines. It is also the third mall in Caloocan City and the first in the northern cluster of the city.

“With the opening of SM City Caloocan, we bring to the northern part of the city the same world-class shopping experience we offer in the southern part with our SM City Grand Central, opened just over two years ago,” SM Prime President Jeffrey C. Lim said.

“We also hope to attract patrons from neighboring cities as we have more than 90,000 square meters of retail space curated to serve and cater to the demands of highly urbanized residents of these communities,” he added.

SM City Caloocan will open with over 90% of its space already lease-awarded.

Some of the brands in the mall include The SM Store, SM Supermarket, Watsons, Miniso, Surplus, Ace Hardware, SM Appliance, Crocs, Uniqlo, and BDO.

It will also have the SM Food Court, SM Cinema consisting of three regular cinemas, Wellness Space, Cyberzone, in-door amusement, and an air-conditioned Sky Plaza.

SM City Caloocan will have almost 1,200 parking slots, a public transport terminal, and an electric vehicle charging station at the third level.

For 2024, SM Prime is also scheduled to open SM City J Mall in Mandaue, Cebu; SM City San Fernando, La Union; and SM City Laoag.

SM Prime shares dropped by 0.37% or 10 centavos to P27.10 per share on Wednesday. — Revin Mikhael D. Ochave