SM Prime to open first mall in Ilocos Norte on May 30
Sy family's property giant SM Prime Holdings Inc. on Wednesday announced it would be opening its first mall in Ilocos Norte on May 30.
In a news release, SM Prime said SM City Laoag would be its 88th shopping mall in the Philippines.
The new mall is located along Airport Road, just minutes from the city center and near Laoag International Airport.
SM Prime said the three-level SM City Laoag offers over 51,000 square meters of gross leasable space.
It added that the new shopping mall would open with 90% of its space already lease-awarded. The mall is also expected to generate approximately 4,000 jobs for Ilocanos across retail, operations, and support services.
'The opening of SM City Laoag reinforces our commitment to bring modern, accessible, and community-oriented retail experiences to underserved but fast-growing areas,' said SM Prime president Jeffrey Lim.
'We're excited to support the region's economic momentum,' he said.
SM Prime said it is also studying a complementary hotel development in Laoag to tap into the area's growing tourism and MICE (meetings, incentives, conferences, and exhibitions) potential, expanding its footprint beyond retail in Northern Luzon. — VBL, GMA Integrated News
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