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SM Prime opens new mall in the Philippines

Philippines-baseddeveloper SM Prime Holdings Inc.opened its 57th mall in the country April 29.

SM CitySan Jose Del Monte in the tier 2 city of San Jose del Monte in Bulacan has 101,000square meters of gross retail and dining area, according to a news release.

The three-floor property is 70% leased. THE SM STORE, SM Supermarket,SM Appliance Center, Ace Hardware, BDO, Surplus, Watsons and SM Cinema are the anchortenants. SM City San Jose Del Monte also has a multilevel parking area with 912car slots.

The new mall brings SM Prime's total retail space to 7.4 millionsquare meters.

SM Prime added that it plans to have a 61-mall portfolio in thePhilippines and six malls in China by 2016-end, aggregating 8.6 million square metersof gross floor area.