Sy family ready to splurge on mall expansion

The Sy family will not cut back on investments and expansion for its shopping center developments amid the online shopping boom in the country, with large-scale malls seen as the new norm for the group.

- RICHMOND MERCURIO

Hans Sy, chairman of the executive committee at SM Prime Holdings Inc., said the group would continue to increase its network of malls nationwide to reach more new markets in the provincial areas and putting up bigger shopping centers moving forward.

“I don’t think we have gone down in terms of our expansion. The reason we’re only opening about four malls every year is also because we’re also being very careful with our building capacity. We don’t want to be building eight or 10 and then not being able to deliver,” Sy said.