SM City Naga to start construction
NAGA CITY -- With 600,000 population distributed in 113,000 households within the Metro Naga area, which is composed of this city and 14 other neighboring towns as its immediate target market, SM City Naga this week formally announced the start of construction of its first mall in Bicol before members of the Sangguniang Panlalawigan here.
The proposed shopping mall will sit on a 4.6-hectare sprawl within the Central Business District 2 of this city, across the integrated bus terminal and near the soon-to-be-completed 8,000-seater Naga City Coliseum.
Annie Garcia, President of the Shopping Center Management Corporation of SM Prime Holdings, Inc. told the Sanggunian members here that ground preparation would start next month preparatory to actual construction.
She said they expected the mall to be completed in March 2009 or even earlier.
SM City Naga will feature a department store, a supermarket, food court, junior anchors, and four cinemas.
Garcia visited city hall Monday (Oct. 22) and paid a courtesy call on City Mayor Jesse M. Robredo.
Coming in full force, Garcia was accompanied by top officials of Shoemart and project engineers and construction officials.
The SM officials took note of Naga’s dynamic trading and commercial activities, anchored as they are by at least 5,000 business establishments, 31 banks, 15 colleges and universities, 6 hospitals, 11 major hotels, 6,000 utility vehicles and 12 bus lines.
SM City Naga would be the first of the country’s leading mall operator in Bicol and the second in South Luzon, outside of Metro Manila.
From their records, SM Malls in provincial cities contribute as much as 11% to 60% of the total municipal tax collection which amounts to a low of P58,938,626 and a high of P131,880,211 a year.
The proposed shopping mall will sit on a 4.6-hectare sprawl within the Central Business District 2 of this city, across the integrated bus terminal and near the soon-to-be-completed 8,000-seater Naga City Coliseum.
Annie Garcia, President of the Shopping Center Management Corporation of SM Prime Holdings, Inc. told the Sanggunian members here that ground preparation would start next month preparatory to actual construction.
She said they expected the mall to be completed in March 2009 or even earlier.
SM City Naga will feature a department store, a supermarket, food court, junior anchors, and four cinemas.
Garcia visited city hall Monday (Oct. 22) and paid a courtesy call on City Mayor Jesse M. Robredo.
Coming in full force, Garcia was accompanied by top officials of Shoemart and project engineers and construction officials.
The SM officials took note of Naga’s dynamic trading and commercial activities, anchored as they are by at least 5,000 business establishments, 31 banks, 15 colleges and universities, 6 hospitals, 11 major hotels, 6,000 utility vehicles and 12 bus lines.
SM City Naga would be the first of the country’s leading mall operator in Bicol and the second in South Luzon, outside of Metro Manila.
From their records, SM Malls in provincial cities contribute as much as 11% to 60% of the total municipal tax collection which amounts to a low of P58,938,626 and a high of P131,880,211 a year.
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