BIG-SCREEN movie company IMAX Corp. has signed a deal with SM Prime Holdings, Inc., the country’s largest mall operator, to install five digital IMAX theaters in the country.

The three theaters expected to be installed in 2011 and two in 2012 take the total number of IMAX system deals announced year-to-date to 89, compared with 35 in 2009.

“The IMAX theaters serve as a great source of incremental revenue for our business, and we’re seeing a growing demand for the IMAX brand as more big Hollywood movies are released in the format,” SM Prime’s President Hans T. Sy said in a statement.

The movie operator also said its IMAX DMR (digital re-mastering technology) gross box office worldwide sales rose about 37% in the second quarter to about $115 million, compared with a year ago.

The listed mall operator operates IMAX theaters at the SM Mall of Asia in Pasay and SM City North EDSA in Quezon City. The firm had announced plans to open one in Cebu. An official said yesterday imax theater will also be opened in Las Piñas, Pampanga, Davao, Laguna, and Taguig.

SM Prime Holdings, which is under the Henry Sy-led mall and banking group, owns 37 SM malls in the country with a combined gross floor area of 4.6 million square meters (sq. m.).

SM City Tarlac opened last April, the first for the year. For the rest of 2010, SM Prime is scheduled to open SM City Novaliches in Quezon City and SM City Calamba and SM Supercenter San Pablo, both in Laguna.

The company is also set to open its fourth SM mall in mainland China, which will be located in the city of Suzhou. By yearend, SM Prime is expected to have 40 malls in the Philippines, with an estimated total gross floor area of 4.7 million sq. m. — Reuters