SM Prime Holdings, Inc. (SM
Prime), one of Southeast Asia’s largest integrated property developers, will
open its first mall in Ilocos Norte on May 30, marking the property
conglomerate’s 88th shopping mall in the Philippines and its latest push into
high-growth regional corridors.
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| SM City Laoag blends modern design with Ilocano heritage, establishing a distinct retail destination in a prime growth corridor just minutes from the city center. |
SM City Laoag is strategically located along Airport Road, just minutes from the city center and near Laoag International Airport. Surrounded by established commercial zones and growing residential developments, the mall is poised to become a new urban anchor for Northern Luzon.
The three-level complex offers over 51,000 square meters of gross leasable space. It opens with 90 percent of its space already lease-awarded and is expected to generate approximately 4,000 jobs for Ilocanos across retail, operations and support services.
“The opening of SM City Laoag reinforces our commitment to bring modern, accessible and community-oriented retail experiences to underserved but fast-growing areas,” said SM Prime president Jeffrey Lim. “We’re excited to support the region’s economic momentum.”
Ilocos Norte posted an 8.6 percent economic growth rate in 2024—the fastest among provinces in Region I—driven by gains in services, accommodation and transport.
SM City Laoag features a robust tenant mix, including SM Store, SM Supermarket, SM Cinema, Ace Hardware, Pet Express, Miniso and BDO. Retail and lifestyle brands include Levi’s, Columbia, Adidas, Watsons and Parfois. The mall will also host global and local dining concepts such as TGI Fridays, Vikings, Marugame Udon, Café Amian and Milk Pot.
A central open-air park, “Dap-ayan,” named after the Ilocano word for gathering place, will serve as a community space for events and leisure.
SM Prime is also studying a complementary hotel development in Laoag to tap into the area’s growing tourism and MICE potential, expanding its footprint beyond retail in Northern Luzon. (SM Prime)
