#smcitysantotomas

[lifestylelaguna]

UP NEXT FOR SM: TWO NEW MALLS IN LAGUNA AND BATANGAS

The retail behemoth is making good on its target to open 100 malls by 2026. SM, the country’s largest retailer and one of the largest property developers in Asia, is celebrating 65 years this year. Its mall business, in particular, is on a roll. In May, SM inaugurated its 83rd mall in Balanga City, Bataan and malls number 84 and 85 are not far behind. 

According to SM Supermalls President Steven Tan, the company is on track to open two more malls before the end of the year: one in Sto. Tomas, Batangas, and another in San Pedro, Laguna.

Five more giant malls will open next year, including two in the Ilocos region: one in Laoag City, the first SM mall in Ilocos Norte; and the other in the province of La Union.

The Philippines is the sweet spot of Asia, I would say because of our population, our demographics is very young, the median age is very young. So, there is a lot of potential. A lot of the brands are looking to our country,” said Tan.

Tan also shared SM’s plans during his speech at the Tenant-Partners Summit on Monday (September 4) at SMX, which served as the kickoff activity of the company’s 65th anniversary this year. The keynote speaker was bestselling author, podcast host, and thinker Malcolm Gladwell, who talked about the shifting landscape of retail and how businesses can communicate with and understand their customers better, particularly young people.

SM, which was founded by the late tycoon Henry Sy Sr., is the country’s largest conglomerate, with interests in retail, banking, property development, and hospitality. As of September 2023, the company had a market capitalization of over P1 trillion. (excerpt from Esquire ph)