SM CDO 2 Premier Mall to Open by the Middle of Year 2017

26 Aug SM CDO 2 Premier Mall to Open by the Middle of Year 2017

By the middle of year 2017, SM Investments Corporation will open its second premier mall in Mindanao. Called CDO 2 Premier mall, it is situated at CM Recto Avenue here in Cagayan de Oro.

According to the senior vice president of the SM Investors Corporation, Corazon Guidote, this said newest mall in the island is classified as a premier mall, which is superior to that of other SM Corporation’s malls that will not only cater the common consumer but also to become the hub of affluent buyers in Northern Mindanao, just like that of Davao City’s SM Lanang Premier. “We are confident in choosing CDO as the next site for our Premier mall here in Mindanao because as everybody can see, it is the economic and cultural hub of investments, business, and opportunities in Northern Mindanao.”

About 80,000 square meters will be the gross floor area of the said mall, with six floors. It will also bring more international brands and tenants compared to the other SM malls, expected to generate 1000-1500 jobs for the people of Cagayan de Oro.

In the next two years, the SM Investments Corporation will also open the Alfa Mart which is in a small food business format.

Every year, SM has designated between P70 to P80 billion with its assertive expansion bid in the Philippines as fueled by the strong momentum of the local economy. And with this capital commitment, it resulted to a further bottomline expansion by 11 percent to P15 billion in consolidated net income in the first half of year 2016.

Source: Sun.Star