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MANILA - SM Prime Holdings Inc. will open its newest mall in General Santos City on Friday that will bring its network to 45 nationwide.
In a disclosure to the Philippine Stock Exchange, the Henry Sy-led mall developer and operator said SM City General Santos will have a gross floor area of 95,764 square meters and is 80 percent occupied by various tenants.
Located at San Miguel Street corner Santiago Boulevard, Lagao District, General Santos City, the three-level shopping center is SM Prime’s first mall in the province of South Cotabato.
"With its thriving economy, General Santos provides an ideal venue for SM Malls as we see a huge potential for growth in the city," said SM Prime president Hans Sy.
General Santos is a highly urbanized first class city and is one of the most populous urban centers in the country. It is the largest producer of sashimi- grade tuna in the Philippines, earning the title “Tuna Capital of the Philippines.”
The hometown of boxing champion Manny Pacquiao, General Santos City is the center of commerce, trade, and logistics of Region 12.
The shopping mall’s anchor tenants are SM Department Store and SM Supermarket. Other mall tenants include Watsons, Ace Hardware, Toy Kingdom, Breadtalk, Congo Grille, Classic Savory, Max’s, Tong Yang, Bench, and Gymboree, among others.
The mall’ amenities include a food court, four cinemas with a combined seating capacity of 1,400 and parking slots for 1,500 vehicles.
SM City General Santos brings the combined gross floor area of all SM malls in the country to 5.4 million square meters. It is the fourth SM mall opening this year after Olongapo, Zambales; Consolacion, Cebu, and San Fernando, Pampanga.
For the rest of 2012, SM Prime is scheduled to open shopping centers in Lanang, Davao City, and Chongqing in China.
By yearend, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined gross floor area of 6.3 million square meters.
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