King Of Malls Not Relinquishing Throne:

SM eyes 115 malls by 2030

- By Richmond Mercurio

SM Supermalls wants to maintain its hold as the country's largest mall developer with an aggressive expansion and redevelopment program in its pipeline over the next five years, potentially growing its network of shopping centers nationwide to 115 by the end of the decade.

"It's very difficult to commit, but this is just based on if everything goes smoothly. By 2030, we might hit 115 malls in total. But that is just in any case that there will be no delay and we do not encounter any unforeseen issues," SM president Steven Tan said.

Tan said that expansion initiative would entail the opening of four to five malls every year.

Also included in the plan is the delivery of one flagship mall annually over the next five years.