SM sets expansion before year ends
Sunday, September 5, 2010
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MORE store outlets will be leased out as SM City Davao, Mindanao's premier shopping destination, is set to expand its operation by utilizing one of its parking spaces for a new building.
Construction of the new building is set to start before the year ends, said Jay Madulara, SM Prime Holdings Davao brand manager.
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He said the new building will house more brand stores, an indication that there is still a market segment in the city that has remained to be untapped.
Madulara also said SM Prime Holdings is set to develop shopping malls in General Santos City and a second mall in Davao City, the SM Lanang, which is located at the 10-hectare property that used to be the Lanang Golf Country Club.
Although he did not mention how much investment will be poured in for the new building at SM City Davao, Madulara said the expansion is already in the pipeline and development works will start in the last quarter of the year.
"We will be using one of our bigger parking spaces for the new building," he said.
He said the new three-storey building is expected to be completed next year. (Nelson C. Bagaforo)
