SM to open La Union mall on Oct. 17

Sy-led integrated property developer SM Prime Holdings Inc. is set to open SM City La Union on Friday, October 17,  to mark its 89th mall in the Philippines.

Located along the Diversion Road in Barangay Biday in San Fernando City, the latest mall covers over 51,000 square meters of leasable area, of which the company said 80% has already been taken up.

“This is our ninth mall in Northern Luzon and we designed it to serve as a landmark for both residents and tourists,” SM Prime president Jeffrey Lim said in a statement.

“As the surfing capital of the region, La Union deserves a retail center that reflects its vibrant lifestyle and rice culture,” he added.

The development is home to a 1,348-square-meter outdoor venue dubbed the Sandbox, designed for sports tournaments and mini-concerts, which has a bike line parallel to a man-made sandbar.

“With our diverse and unique offerings, we hope to strengthen La Union’s position as both a tourism and economic hub in Northern Luzon,” Lim said.

The company is seeking to tap La Union’s tourism industry, which generated over P1 billion in revenues last year, and an average length of stay of 1.39 days.

SM Prime earlier announced the P7-billion redevelopment of SM Megamall to adopt a “Crystal Islands” concept designed by the architectural firm known for developments such as Singapore’s Jewel Changi and Thailand’s Icon Siam.

It posted an all-time high net income of P24.5 billion in the first half of the year, as strong consumption and the recovery in retail and tourism drove revenues up by 5% to P68 billion. —AOL, GMA Integrated News