PHILIPPINES: SM opens new mall SM City Puerto Princesa in Palawan

PHILIPPINES: SM opens new mall SM City Puerto Princesa in Palawan

 

Pasay City, Philippines, 2017-Oct-11 — /EPR Retail News/ — With the opening of SM City Puerto Princesa in Palawan on September 15, SM has further expanded its retail footprint nationwide.

Determined to bring its mark of providing an exciting retail experience to as many Filipinos, SM launched its anchor retail brands in Puerto Princesa, one of the country’s main tourist destinations and voted as one of the best islands in the world by travel magazine Travel + Leisure. These included THE SM STORE, SM Supermarket and SM Appliance Center; as well as specialty brands Ace Hardware and Watsons with a combined floor area of over 15,000 square meters.

“SM’s maiden property and retail ventures in Palawan open opportunities for us to cater to an underserved tourist market. Under the government’s expansionary strategy, there is increased focus on regional development. This supports our overall strategy to further expand and cover as many provinces in the country to provide access to the best retail options to consumers,” SM Investments Corp. President Frederic DyBuncio said.

The additional retail brands add to SM Retail’s total of 2,357 as at end-June 2017. This comprises 58 THE SM STORES, 1,709 specialty stores, 50 SM Supermarkets, 44 SM Hypermarkets, 170 Savemore stores, 41 WalterMart stores and 285 Alfamart stores as of the given period.

“SM’s diversified retail business allows greater synergies with SM Prime’s own diverse product offerings and integrated developments. SM Retail is given room to further gain a foothold in the regions and further expand with each property expansion,” Corazon Guidote, SVP for Investor Relations at SM said.

Aside from its anchor and specialty retail brands, other SM-related brands that located in SM City Puerto Princesa are variety store chain Miniso, BDO, SM Cinema and Director’s Club and logistics company, 2GO as well as BDO.

SM Retail continues to expand across the country. For one, the food retail group under SM Markets plus WalterMart pursued its expansion both in urban and rural communities. For the SM STORE, it opened SM CDO Downtown in Cagayan de Oro this year aside from SM City Puerto Princesa. As of the first half, the total gross selling area of all 58 department stores stood at 760,000 square meters.

Revenues from SM Retail’s specialty retail stores grew 8% to PHP31.6 billion in the first half of 2017.  Specialty retail brands include Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company, Sports Central, Forever 21 and Body Shop which continue to expand nationwide.

About SM Investments Corporation

SM Investments Corporation is a leading Philippine company that is invested in market leading businesses in retail, banking and property. It also invests in ventures that can capture high growth opportunities in the emerging Philippine economy. It looks for market leaders or those with potential to become leaders in their chosen sectors that offer synergies and attractive returns and cashflows.

SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s largest bank and China Banking Corporation (China Bank), the 7th largest bank.

For more about SM, click here: www.sminvestments.com

For further inquiries, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
E-mail: cora.guidote@sminvestments.com
Tel. No. (632) 857-0117

Source: SM Investments Corporation

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PHILIPPINES: SM Prime Holdings opens its first premier mall in Palawan — SM City Puerto Princesa

PHILIPPINES: SM Prime Holdings opens its first premier mall in Palawan — SM City Puerto Princesa

Pasay City, Philippines, 2017-Sep-15 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, continues to expand in the provincial cities of the Philippines as it opens its first premier mall in the largest province in the country, SM City Puerto Princesa in Palawan, on September 15, Friday. This new mall will add 54,000 square meters (sqm) in gross floor area (GFA), bringing the company’s total retail space in the Philippines to 7.9 million sqm.

Built in one of the fastest growing cities in the country, SM City Puerto Princesa is strategically located at the heart of Puerto Princesa City. Its unique identity topped with lush landscaping is positioned to conform to its resort-style complex.

“We take pride in opening the 64th mall of SM Prime in one of the most sought-after island destinations in the world. We expect SM City Puerto Princesa to add new dynamics and opportunities to the thriving province of Palawan highlighted by SM’s pursuit of new and unique malling experience,” SM Prime President Jeffrey C. Lim said.

Set to open with 80% of space lease-awarded, SM City Puerto Princesa will have three-level retail and dining floors that will house around 180 favored food and retail shops including The SM Store, SM Supermarket, BDO, Sports Central, Surplus Shop, Cyberzone, Watsons, SM Appliance, Ace Hardware, a traveler’s lounge and other homegrown brands.

Aside from that, Palaweño moviegoers will now have a more satisfying and exciting cinema experience with SM City Puerto Princesa’s three 158-seater SM Digital Cinema, and two 48-seater Director’s Club Cinema.

Designed to complement the tropical vibe of the island, SM City Puerto Princesa is set to be a cost-efficient and energy saving building, in line with SM Prime’s commitment on sustainable future and disaster risk reduction.

This year, SM Prime has already launched SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry Antipolo in Rizal; and still scheduled to open is SM Center Tuguegarao Downtown in Cagayan Valley.

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.

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For further information, please contact:

Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
Tel. no.: +632 862 7940
SOURCE: SM Investments Corporation