SM opens new P1.0-B mall
By Elizabeth Sanchez-Lacson
Inquirer
Last updated 04:20pm (Mla time) 11/09/2007
MANILA, Philippines -- SM Prime Holdings Inc., mall developer of Henry Sy, opened Friday its 29th mall, which cost the company roughly P1 billion to build, in Taytay, Rizal.
In a disclosure to the Philippine Stock Exchange (PSE), SM Prime said the new mall has a gross floor area of 91,920 square meters and stands on 38,525 sqm of land.
SM City Taytay has a leaseable area of 42,459 sqm and has as its main tenants SM Department Store, SM Hypermarket, a food court, and three cinemas.
The SM Hypermarket occupies 8,000 sqm of the mall's total gross floor area and offers a mix of food and non-food items, such as apparel and appliances.
"Taytay is recognized as the garments capital of the Philippines. It has a large residential community and it houses the biggest school campus of one of the country's leading colleges. It is easily accessible from various points of Metro Manila, through major thoroughfares such as the Ortigas Avenue Extension and the Sumulong Highway, which makes it an ideal location for an SM City in the province of Rizal," SM Prime president Hans Sy said.
Before the year ends, SM Prime is to unveil SM Supercenter Muntinlupa, a community mall similar to SM Supercenter Pasig, which has SM Hypermarket at its anchor tenant.
It will also soon launch San Miguel by the Bay, a strip mall located at the Esplanade fronting the SM Mall of Asia Complex. SM Prime is also now expanding SM City Cebu.