SM City Calamba opens Friday

SM CITY Calamba, the 39th mall operated by SM Prime Holdings, Inc., the country’s largest mall developer, will open its doors Friday.

"It is SM’s third mall in Laguna, a clear testament to the robust progress and development that the province has sustained," SM Prime Holdings President Hans T. Sy said in a disclosure to the stock exchange Thursday.

"Laguna offers a large and diverse market driven by trade and tourism," he added.

SM City Calamba, the company's third mall in Laguna, has a gross floor area of 66,516 square meters (sq. m.) and occupies 55,102 sq. m. of land.

It has a leasable area of 44,740 sq. m., 82% of which has already been awarded to various tenants such as SM Supermarket, SM Department Store, SM Appliance Center, Ace Hardware, Jollibee, McDonald’s, KFC, Red Ribbon, and National Bookstore.

SM City Sta. Rosa, opened in 2006, was SM Prime’s first mall in Laguna. The second, SM City San Pablo, opened last October 1.

By yearend, SM Prime is expected to have 40 malls in the Philippines, with an estimated gross floor area of 4.8 million sq. m.

SM Prime shares -- whose consolidated net income climbed by 10% to P3.8 billion in the first half due to higher consumer spending -- closed at P11.98 apiece on Wednesday