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SM Prime to Open SM City Consolacion in Cebu

Thursday, May 31, 2012
SMPHI IR


 

 

(31 May 2012. Pasay City, Philippines.) SM Prime Holdings, Inc. (SM Prime), the Philippines’ dominant mall developer and operator, is set to open its 43rd shopping mall in the country, SM City Consolacion, on Friday, 01 June 2012. The brand new mall, with a gross floor area (GFA) of 106,857 square meters (sqm), is located along the Cebu North Road, Barangay Lamac, Consolacion, Cebu. It is SM Prime’s second mall in the province, after SM City Cebu, which opened in November 1993 and is an 11 kilometer distance away.SM Prime President Mr. Hans T. Sy said, “We warmly welcome all our valued customers to our newest and second mall in Cebu, SM City Consolacion. The region of Cebu remains to be a key expansion area for SM malls. This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth.”
 
SM City Consolacion has a leasable area of 57,842 sqm, 89% of which has already been awarded to various tenants. The shopping mall’s anchor tenants are SM Department Store and SM Supermarket. Among the quick service restaurants located in the mall are Jollibee, Chowking, Greenwich, Red Ribbon, Pizza Hut, KFC, and Mang Inasal. Food restaurants serving local Cebuano cuisine such as Chika-an Sa Cebu and Jonie’s Chicken are likewise tenants of SM City Consolacion. Other mall tenants include BDO, Watsons, Ace Hardware, National Bookstore, Ideal Vision, Bench, and Penshoppe, among others. SM City Consolacion’s amenities include a Cyberzone; a food court that comfortably seats up to 668 diners; four cinemas, with a combined seating capacity of 1,488; and parking slots for over 700 vehicles.
 
Consolacion is a first class residential urban municipality in the province of Cebu. It is part of the Cebu Metropolitan Area (Metro Cebu), which is the second international gateway and the second largest urban area in the Philippines. Consolacion’s major industries are furniture making, garments, manufacturing, shipbuilding, and ship repair. SM City Consolacion brings the total number of SM Prime malls to 43 all over the country, with a combined GFA of 5.2 million sqm. It is the second SM mall to be opened this year, after SM City Olongapo in Zambales, which was inaugurated last February. 
 
In line with SM Prime’s expansion plans for Cebu is the construction of the Php4.5 billion shopping mall in the reclaimed South Road Properties (SRP). The mall is expected to open in the third quarter of 2014 and will boast of a gross floor area of 241,600 square meters, making it Cebu’s biggest mall and fourth among SM malls. It is part of the 30-hectare mixeduse development project of SM Prime in Cebu called SM Seaside City. This is proof of SM’s vision for the growth of Cebu City and the positive impact that its malls have on the lives of Cebuanos.
 
For the rest of 2012, SM Prime is scheduled to open SM City San Fernando in Pampanga, SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, and SM Chongqing in China. By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.
 
 
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For further inquiries:
Mr. Jeffrey C. Lim
Executive Vice President
SM Prime Holdings, Inc.

 

Date: 
Tuesday, March 11, 2014
Source: 
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