<\/p>\n
SM PRIME Holdings, Inc. said it can open SM Nuvali, a flagship mall in Sta. Rosa, Laguna, by the fourth quarter.<\/span><\/p>\n SM Nuvali will likely be SM Prime\u2019s fifth and largest mall in Laguna and its 91st<\/sup> mall overall, the corporate said in a press release on Thursday.<\/p>\n \u201cSM Nuvali marks the primary of 5 flagship malls we plan to open annually from 2026 to 2030,\u201d SM Prime President Jeffrey C. Lim said.<\/span><\/p>\n \u201cThis reflects our confidence in high-growth regional markets and our commitment to constructing integrated destinations that support long-term value creation,\u201d he added.<\/p>\n SM Prime said the event is an element of its strategy to speculate in regional markets, citing demand driven by rising incomes, improved connectivity, and expanding urban centers.<\/p>\n The mall will offer greater than 82,000 square meters of gross leasable area and can incorporate sustainability features equivalent to solar panels, water recycling systems, and energy-efficient lighting.<\/p>\n SM Nuvali can even include 24 electric vehicle charging stations, a recycling program, and an e-waste collection facility, the corporate said.<\/p>\n The project will include open-air promenades, green zones, and lifestyle spaces in step with the Nuvali estate\u2019s eco-community plan.<\/p>\n \u201cWe imagine SM Nuvali can bring meaningful value to the Nuvali estate,\u201d Mr. Lim said. \u201cIts experiential attractions and tenant mix will help generate economic activity, create jobs and attract more investment into the region.\u201d<\/p>\n The mall will feature a one-hectare indoor garden, playgrounds, a paw park, and nature-inspired areas, together with restaurants and global brands. It can be connected by a bridgeway to the Park Inn by Radisson and SMX Trade Hall, that are being developed by SM Hotels and Conventions Corp.<\/span><\/p>\n SM Prime said development of the NV Towers office project can also be underway inside the estate.<\/p>\n The expansion comes as the corporate reported a first-quarter net income of P11.66 billion, barely higher than P11.65 billion a yr earlier, supported by a 2% increase in consolidated revenues to P33.3 billion.<\/p>\n Malls remained the biggest contributor, accounting for 61% of total revenues at P20.4 billion, up 8% from a yr earlier, while rental income rose 8% to P21.6 billion on improved occupancy.<\/p>\n The residential segment generated P8.3 billion, down 14% yr on yr, while real estate sales fell 16% to P7.8 billion, reflecting slower revenue recognition and cancellations.<\/p>\n Hotel and convention center revenues rose 8% to P2.2 billion, while office revenues increased 10% to P2.5 billion, each on improved occupancy and bookings.<\/p>\n SM Prime said it’s tightening capital spending and coordinating with tenants and partners because it responds to economic pressures, including higher inflation and rates of interest linked to the continuing Middle East conflict.<\/p>\n As of March, the corporate reported total assets of P1.1 trillion. Capital expenditures for the quarter reached P15.5 billion, down 9% from a yr earlier.<\/p>\n On Thursday, shares of SM Prime fell 1.96% or P0.38 to shut at P19. \u2014 J.C.A. Gonzales<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" SM NUVALI \u2014 SM PRIME HOLDINGS, INC. SM PRIME Holdings, Inc. said it can open SM Nuvali, a flagship mall in Sta. Rosa, Laguna, by the fourth quarter. SM Nuvali will likely be SM Prime\u2019s fifth and largest mall in Laguna and its 91st mall overall, the corporate said in a press release on Thursday. 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