SM Prime Holdings Inc. (SMPH.PH), the Philippines’ largest mall operator by assets, said it will open Friday its 32nd mall in the country, continuing to expand its network despite slowing consumer demand.
SM City Rosales, located in the northern province of Pangasinan, has a gross floor area of 60,989 square meters and a leasable area of 43,235 square meters.
‘Our expansion towards provincial markets continues with the opening of SM City Rosales,’ said SM Prime President Hans Sy on Thursday.
He added that the town of Rosales has a large, productive agricultural base, and is also a take-off point to major cities in the north.
The opening of the mall will provide jobs to about 1,500 people, and will bring to 32 the total number of SM Prime malls all over the country, with a combined gross floor area of 4.1 million square meters.
This is the second mall SM Prime opened this year, and is scheduled to also open another one in the province of Bulacan, while expanding three of its malls in the capital Manila.