MANILA, Philippines -- Shopping mall giant SM Prime Holdings, Inc. opened Friday a mall in Naga City, the first SM mall in the Bicol region and also the first new mall to be opened this year by Henry Sy, the country's richest man.
The new mall in Naga City, the 34th in the SM chain, has a gross floor area of 64,870 square meters (sqm) and occupies 46,801 sqm of land. It has a leasable area of 31,398 sqm, 94 percent of which has already been awarded to various tenants.
The major tenants are SM Department Store and SM Supermarket, which will occupy 11,991 sqm and 6,413 sqm of floor space, respectively.
"Naga City may be considered as the nerve center of the Bicol region. It is home to large business establishments, universities, hotels, and regional government offices. It is also a transportation hub with the Naga Transport Exchange servicing almost all of the region's inter-municipality transportation. Its tourism industry is highlighted by the presence of the world-class CamSur Watersports Complex, one of the top tourist destinations in the country which played host to the 2008 world wakeboarding championship. These attributes make Naga City an ideal and suitable location for an SM mall," SM Prime president Hans Sy said in a press statement.
Other mall tenants include SM Appliance, Jollibee, Greenwich, Red Ribbon, Chowking, Max's, Gerry's Grill, National Bookstore, Watsons, and Ace Hardware, among others.
SM City Naga's amenities include a food court; four cinemas with a combined seating capacity of 1,400; and parking slots for over 1,000 vehicles.
For the rest of 2009, SM Prime is scheduled to open SM City Rosario in Cavite, SM City Pamplona in Las Piñas, the Sky Garden at SM City North Edsa and launch its expansion of SM City Rosales in Pangasinan.
By year end, the country's largest shopping mall empire is expected to have 36 malls in the country, with an estimated gross floor area of 4.9 million sqm. It also has three existing malls in mainland China and plans to build three more.
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