SM Prime to open its biggest mall in Bicol region

MANILA, Philippines — SM Prime Holdings Inc., one of the largest integrated property developers in Southeast Asia, will open its biggest mall in the Bicol Region this week.

In a disclosure to the stock exchange, SM Prime announced it will open SM City Legazpi in Albay province on Friday, September 14.

According to the Sy-led company, its newest mall located in Legazpi City, which is home to the majestic Mayon Volcano, spans to almost 88,000 square meters of gross floor area.

“Together with SM City Naga in Camarines Sur, this new lifestyle destination in Bicolandia will elevate the malling experience of both the locals and tourists with offerings from top local and global brands,” SM Prime President Jeffrey Lim said.

SM Prime—which has a market capitalization of more than P1 trillion—has four business units, namely: malls, residential, commercial, and hotels and convention centers.

On Tuesday, shares in SM Prime closed flat at P36.50 apiece. — Ian Nicolas Cigaral