SM PRIME OPENS 3 MALLS THIS YEAR

SM Prime has set aside P80 billion in capital expenditures (CapEx) this year as it opens three new shopping malls and expands its existing ones.

However, SM Prime Chief Finance Officer John Nai Peng Ong, said the projected CapEx that will cover its mall and residential projects is still subject to regular reassessment.

The planned mall expansions will ad 367,000 square meters of gross floor area to its portfolio, Ong said.

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