SM Prime Holdings Inc, one of Southeast Asia’s largest integrated property developers, will open its first shopping mall in Ilocos Norte on May 30, marking its 88th mall in the Philippines and signaling its continued expansion into fast-growing regional markets.
Located along Airport Road in Laoag City, SM City Laoag sits near the city center and Laoag International Airport, positioning it as a new commercial hub for Northern Luzon.
The three-level mall offers more than 51,000 square meters of gross leasable area, with 90% of space already lease-awarded ahead of the opening. The project is expected to create around 4,000 jobs across retail, operations, and support sectors.
SM City Laoag opens amid strong regional economic indicators, with Ilocos Norte posting 8.6% growth in 2024—the highest in Region I—driven by performance in the services, accommodation, and transport sectors.
The mall aims to tap into this momentum by serving both residents and a growing number of domestic and international tourists.
Anchor tenants include SM Store, SM Supermarket, SM Cinema, Ace Hardware, Pet Express, Miniso, and BDO. It also features a diverse range of lifestyle and retail brands such as Levi’s, Columbia, Adidas, Watsons, and Parfois.
Dining options include global and local chains like TGI Fridays, Vikings, Marugame Udon, Café Amian, and Milk Pot.
A central feature of the mall is “Dap-ayan,” an open-air community space named after the Ilocano word for a gathering place. It is designed to host public events and leisure activities.
SM Prime is also exploring complementary developments, including a potential hotel project in Laoag, to support the region’s tourism and MICE (meetings, incentives, conferences and exhibitions) growth.
The move is part of a broader strategy to establish a stronger presence in Northern Luzon beyond retail.
Business News Asia