SM Northwing to open by September

The SM City Cebu will open its P300 million annex project called "The SM Northwing" this coming September 2007.

This was announced by SM Supermalls senior vice assistant vice president for marketing in Visayas and Mindanao Marissa Fernan during the SM Northwing virtual walk-through event held recently.

The SM Northwing utilizes about 104,000 square meters, and will be built to offer 168 leasable slots, it offers four-level parking space which will accommodate close to 2,000 cars. Currently the mall is giving free parking space which can accommodate 2,300 cars.

The five-story new building will use the ground as the shopping and leisure component, the four floors are intended as parking areas.

Cebu, being one of the world’s top resort towns, offers promising business for retail, dining and entertainment, as well as lifestyle, home and wellness features.

This SM Cebu expansion will offer the new sophisticated ambiance for shopping lifestyle, Fernan said.

Taking shopping luxury to a different level, the new SM Northwing features a Concierge desk for its customers, and comfort lounge.

Fernan added that SM Northwing also features high-end and branded retail and specialty shops, including ACE Builders, Our Home, Al Fresco dining, comfort lounge, concierge and wide entertainment area.

Almost all of the 225 SM malls in country, (excluding newly opened shopping malls) are undergoing expansion projects, which include the SM Northwing in Cebu.

The SM Group led by its president Hans Sy expressed optimism of the dynamic retail industry in Cebu, fueled by the increased in BPO investments, and tourism arrivals.

For this reason, immediately after the opening of SM Northwing, SM Prime Holdings, Inc. (SMPHI) is ready to pour another P2 billion investments for Cebu, for the establishment of two more shopping malls, probably along Banilad area, and in the Sourthern part of the City.

Among the provincial facilities, SM Cebu is one of the top performers, indicating that Cebu market is ripe for more SM shopping malls.

Last year, SM Cebu registered a four percent growth, despite the ongoing construction of its annex building expansion.

In 2005, SM City Cebu registered a double-digit sales performance, amid the country’s "perceived" economic struggles, coupled with political instability. — Ehda M. Dagooc