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Philippines' SM Prime opens 1st mall in Cagayan Valley region

SM Prime Holdings Inc. is opening its first mall in the Cagayan Valley region, marking the company's 65th shopping center in the Philippines.

Dubbed SM Center Tuguegarao Downtown, the mall is taking the company's mall portfolio floor area in the country to 8.0 million square meters with its 37,000 square meters of space. The retail complex is already 90% leased even before its Oct. 12 opening, with SM's own brands, such as ACE Hardware, Surplus, Watsons and BDO, anchoring the mall.

The launch of SM's 65th mall in the country follows the launching of SM City Puerto Princesa in Palawan, SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry Antipolo in Rizal, which all opened in 2017. It is pushing to take its expansion initiative into 2018 with the opening of 10 new malls.