SM PRIME Holdings, Inc. (SMPH) expanded its shopping mall footprint in the country to 57 yesterday with the opening of its third mall in the province of Bulacan in line with the Henry Sy, Sr.-led real estate firm’s strategy of taking advantage of growth in provincial areas.

SM City San Jose del Monte will add 101,000 square meters (sq.m.) in gross floor area to SM Prime’s retail footprint, bringing the total to 7.4 million sq.m. — the largest in the country, the integrated property developer said in a disclosure to the stock exchange on Thursday.
 
“We continue to expand in the provincial areas as we remain optimistic about their huge potential for growth. The opening of SM City San Jose del Monte in Bulacan is a testament to this strategic direction as we remain steadfast in developing premier destinations around the country,” SM Prime President Hans T. Sy was quoted in the disclosure as saying.
 
Located along Quirino Highway, SM City San Jose del Monte is the company’s third shopping center in Bulacan after SM City Baliwag and SM City Marilao. 
 
About 70% of SM City San Jose Del Monte is leased out to tenants that will fill its three floors with retail stores, dining outlets, recreation and entertainment facilities, and service centers. By yearend, SM Prime is targeting to have 61 malls in the Philippines and six in China.
 
Shares in SMPH added 45 centavos or 2% to close at P22.90 each on Thursday.