SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, opens SM City Cabanatuan on October 9, 2015. It is SM Prime’s 53rd mall in the country, and the second mall within Nueva Ecija – along with SM Megacenter Cabanatuan.
The new mall provides an additional 154,020 square meters (sqm) in gross floor area (GFA), expanding SM Prime’s total retail space to 6,762,419 sqm in the Philippines, SM Prime said in a disclosure to the Philippine Stock Exchange.
SM City Cabanatuan is strategically located along Maharlika Highway in Cabanatuan City, which is the largest city in Nueva Ecija. The city, seated between the provinces of Pampanga, Bulacan, Tarlac and Aurora, serves as the Gateway to the North. This has made the city one of the business, transportation, medical and educational centers in Region III.
“The opening of SM City Cabanatuan is SM Prime’s commitment to be part of the growth of the province. The opening of new malls is timely given the expected higher growth in overall consumption in the 4th quarter. The economy’s sustained GDP growth in the past 5 years is now spreading to the provinces and we at SM Prime will continue to expand in these provinces that are enjoying high growth, like in Cabanatuan City, where we see significant development and huge unserved demand for shopping experiences,” SM Prime President Hans T. Sy said.
The mall will open with 90% lease-awarded, which are leased to various tenants and will serve over 270,000 residents. The shopping mall will have anchor tenants such as The SM STORE, SM Supermarket, Ace Hardware, SM Appliance Center, Watson’s, The Body Shop, Surplus Shop and UNIQLO.
The new SM Supermall will provide an exciting and state-of-the-art shopping experience for the local shoppers, making it a destination mall. SM City Cabanatuan creates a memorable identity on its primary highway frontage with bold and dynamic colors that complements a featured curved wall. The four-level mall also includes two Sky Gardens namely, the Garden Park,which provides covered shelter; and the Roof Park located at the fourth level. The mall will have six cinemas (five cinemas with a 275-seating capacity; one large format cinema with a 525-seating capacity) and 2,500 parking slots for cars and motorcycles.
The interior of SM City Cabanatuan was carefully designed around a simple yet efficient plan that allows shoppers to easily stroll around and provides clear line-of-sight to all shops on all levels at the same time. Interior bridges are strategically built that provide convenient access to all passages of the mall, supplemented by a centrally located glass elevator and escalators. The main interior features a dynamic ceiling that utilizes height of the mall to provide ample daylight, making the mall look spacious, bright and cozy.
To date, SM City Cabanatuan is the third SM Supermall to be opened this year, after SM City San Mateo that recently opened last May 15. For the rest of 2015, SM Prime is scheduled to open SM Center Sangandaan in Caloocan, andSM Seaside City Cebu. The company is also set to expand SM City Lipa in Batangas and SM City Iloilo this year. By the end of 2015, SM Prime will have 55 malls in the Philippines and six in China with an estimated combined GFA of 8,269,486 million sqm.
SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. – BusinessNewsAsia.com