8990 Holdings partners with SM Group in Tondo mall

Listed property developer 8990 Holdings Inc. has partnered with SM Group to have SM Hypermarket as lead anchor tenant of Deca Mall in Tondo, Manila.

In a regulatory filing submitted by 8990 Holdings Investor Relations officer Tracy Ilagan, the company said SM Hypermarket will occupy 3,073 square meters of Deca Mall.

Set to open in the second quarter of 2019, Deca Mall is a P452-million community mall in one of Manila’s most populous areas. The mall will host up to 450 small and medium enterprise (SME) tenants in an 18,000-square meter development with a gross leasable area of 14,547 sqm.

The project forms part of an 8.4-hectare property that includes Urban Deca Homes Manila, a 13-tower residential complex with an estimated sales value of P20 billion.

“By bringing in SM Hypermarket as the anchor tenant of Deca Mall, Urban Deca Homes residents and those from the environs no longer have to travel far for their everyday shopping needs,” said 8990 Holdings Inc. president and CEO Willie Uy. —Jon Viktor Cabuenas/VDS, GMA News