DAVAO CITY- SM is considering Toril and Zamboanga for the end of 2020 - this is according to SM Vice-President for Mindanao Operations Oliver John TiuTuesday’s bizforum at DermPath SM City Davao. Accordingly, the company is still conducting a market study to determine which of the two will be prioritized.

The feasibility study will last for two years to determine which of the two areas will be prioritized for development. SM Toril would depend on the market performance of Davao City's southern part and its neighboring areas such as Digos and North Cotabato while SM Zamboanga will depend on SM Mindpro if it is good enough already for the city's buying power.

SM bought Mindpro CitiMall in Zamboanga. Photo credit to the owner.




“If the market (in Zamboanga) will say one SM will be good, because it is really SM Mindpro (Mindpro Citimall), the SM brand is there but it’s off course a joint venture. Whatever the original structure is, we’ll have an expansion. But if they say, ’okay the market is good enough for an SM Mindpro’, and off course the competitors there, then we will delay the construction for a while,” explained Tiu.

On the average, the company spends about P2 billion for every new mall. SM is looking forward to establish 15 more malls across the Philippines at the end of 2018.

Read EdgeDavao article about this HERE.

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