SM Prime to Open SM Lanang Premier in Davao
Pasay—(PHStocks)—SM Prime Holdings Inc. (SM Prime, PSE: SMPH), the Philippines’ dominant mall developer and operator, is set to open its 46th shopping mall in the country, SM Lanang Premier, on Friday, 28 September 2012. The brand new mall, with a gross floor area (GFA) of 144,000 square meters (sqm), is located at J.P. Laurel Avenue, Brgy. Lanang, Davao City. It is SM Prime’s second mall in the province, after SM City Davao, which opened in November 2001 and is nine kilometers away.
SM Prime President Hans T. Sy said, “We warmly welcome our valued customers to our second mall in the province of Davao, SM Lanang Premier. This is SM Prime’s biggest and first premier mall development project in Mindanao that is designed to cater to the growing demands of the Davao market and its vibrant tourism industry.”
SM Lanang Premier is already 88% occupied by various tenants. The mall’s facade is accentuated by the folded building concept, inspired by the traditional Japanese art of folding paper known as Origami. The shopping mall’s anchor tenants are SM Department Store and SM Supermarket. It will also house the SMX Davao Convention Center. Other mall tenants are Watsons, Ace Hardware, Kultura, Forever 21, Centerstage, Vikings, Cha Time, Mesa, Jollibee and KFC. SM Lanang Premier’s amenities include five cinemas and an IMAX Theater, with a combined seating capacity of 2,200; a bowling center; a Science Discovery Center; and parking slots for over 1,500 vehicles.
Incorporating environmentally sustainable technology in its design and construction, SM Lanang Premier features a Skygarden with water fountains, art installations, and landscaping. The mall is also designed with skylights and will use LED to ensure efficient energy consumption.
Lanang is a highly urbanized commercial center in the province of Davao. It is home to one of the cultural heritage sites in the city, the Davao Museum. Davao is one of the country’s major sources of Philippine export products such as bananas, tuna, finished wood products, pineapples, and rubber. SM Lanang Premier brings the total number of SM Prime malls to 46 all over the country, with a combined GFA of 5.5 million sqm. It is the fifth SM mall to be opened this year, after SM City Olongapo in Zambales, SM City Consolacion in Cebu, SM City San Fernando in Pampanga and SM City General Santos in South Cotabato.
For the rest of 2012, SM Prime is scheduled to open 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.