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SM Prime building 21 new malls
posted January 21, 2018 at 09:05 pm
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Jenniffer B. Austria

Property developer SM Prime Holdings Inc. is staying aggressive on its expansion as it lined up 21 new malls for completion from 2018 to 2020, documents filed with the Securities and Exchange Commission show.

SM Prime, which prepared a P20-billion fixed-rate retail bond offering, aims to complete SM City Urdaneta Central, SM City Telebastagan, SM City Legaspi, SM City Ormoc and SM City Dagupan in 2018.

Documents showed SM Prime expected in 2019 to complete SM Daet, SM Butuan, SM Olongapo Central, SM Balanga Bataan, SM Sorsogon, SM Tagum, SM City Tuguegarao, SM Mindoro and SM Grand Central.

The property unit of the SM Group will launch SM City Roxas, SM Calamba Turbina, SM Tanza, SM San Fernando, La Union, SM Laoag, SM Zamboanga and SM Malolos in 2020.

Except for the SM Grand Central in Caloocan, all new malls will rise in provincial areas.

SM Prime also continues to implement its strategy of building business process outsourcing office towers next to shopping malls.

The company plans to build eight new office buildings, including one in SM Cagayan de Oro, two in SM Southmall, one in SM Fairview, one in SM Iloilo and two in SM North Edsa.

SM Prime said assuming the oversubscription portion of the planned bond offering was exercised, it planned to spend for the expansion of eight existing malls and the construction of Four Ecom Center at Mall of Asia complex in Pasay City.

Under the company’s five-year roadmap ending 2018, the group plans to have 75 malls with a total gross floor area of 10.5 million square meters.

SM Prime earlier announced plans to issue P15-billion, fixed-rate bonds with an over subscription option of up to P5 billion and maturities of 5 years and 7 years.

The latest bond offering comprises SM Prime’s third tranche of the P60-billion, three-year debt securities program approved by the SEC in July 2016.

If the entire P20 billion is issued, SM Prime would have still have P10 billion worth of unissued bonds under the debt securities program.

SM Prime tapped BDO Capital and Investments Corp., China Bank Capital, BPI Capital Crop., First Metro Investments Corp., PNB Capital and Union Bank of the Philippines as joint underwriters for the offering.
 

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^^ SM City Rosario is not strategic for them anymore. The mall is already hard to access for West Cavite residents. Many stores are closing, foodcourt is now closed (not that it was strong from the start), and it is now outpaced by Robinsons Place GenTrias. The best thing that they can do is to outsmart the competitor by establishing a mall in Tanza—capturing the customers from the West. The same strategy (or problem) that Robinsons used to outdo SM will be used against them in the future.

Cavite's mall landscape is becoming more interesting than ever. Who knows? Maybe SM plans to make this mall SM Tanza Premier—acknowledging Megaworld's and Ayala's presence in the area. :lol::lol::lol:
 

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^^ SM City Rosario is not strategic for them anymore. The mall is already hard to access for West Cavite residents. Many stores are closing, foodcourt is now closed (not that it was strong from the start), and it is now outpaced by Robinsons Place GenTrias. The best thing that they can do is to outsmart the competitor by establishing a mall in Tanza—capturing the customers from the West. The same strategy (or problem) that Robinsons used to outdo SM will be used against them in the future.

Cavite's mall landscape is becoming more interesting than ever. Who knows? Maybe SM plans to make this mall SM Tanza Premier—acknowledging Megaworld's and Ayala's presence in the area. :lol::lol::lol:
For the mean time there is no press release. Default muna ang SM Center Tanza okay. Kahit there's no strategy for SM City Rosario.
 

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^^ How come there is a default one? There should be no default since as you have said already, there is no press release yet. Stay as it is—SM Tanza [Premier]. :lol::lol::lol:

P.S. I do not really feel the need for this thread yet, but whatever.
 

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^^ How come there is a default one? There should be no default since as you have said already, there is no press release yet. Stay as it is—SM Tanza [Premier]. :lol::lol::lol:

P.S. I do not really feel the need for this thread yet, but whatever.
SM Tanza for now, no SM Center, SM City or Premier, just SM Tanza lang. Wala pang press release until kung anong type ng mall ang SM Tanza.
 
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No cinema included?
It's SM's plan for now. Baka parang SM Urdaneta Central ang soft opening eh, walang sinehan sa opening ng SM UC, but they say that they will have cinemas in the future.
 
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