MANILA - Sy-led mall developer SM Prime Holdings Inc. is further expanding its provincial reach as it opens its 4th branch in Cavite on Friday.

In a disclosure to the local bourse on Wednesday, SM Prime said the new mall has a gross floor area (GFA) of 52,142 square meters (sqm) and is located along General Trias Drive in Brgy. Tejeros, Rosario in Cavite province. SM Prime's other malls in Cavite include SM City Bacoor, SM City Dasmarinas, and SM Center Molino.

SM City Rosario is SM Prime's 36th shopping mall in the Philippines, and the last mall to be opened by the company this year.

"Our 3 existing malls in the province (Cavite) are doing very well. Thus, as we eagerly open the doors of SM City Rosario, we expect it to likewise adequately service the various needs of our loyal customers in Cavite," SM Prime President Hans Sy said.

The anchor tenants of the new mall include SM Supermarket, SM Department Store, Ace Hardware, SM Appliance, and personal care products distributor Watsons. Other tenants include quick-service restaurants Jollibee and KFC, Savory Chicken, Max's, and Red Ribbon, fashion and apparel retailers Penshoppe and Bench, and National Bookstore, among others.

Since the start of the year, SM Prime opened SM City Naga, SM Center Las Pinas, SM City Fairview Annex, the Sky Garden at SM City North Edsa, and the extension of SM City Rosales in Pangasinan.

In 2010, SM Prime said it will open a mall in Quezon City, Tarlac, Antipolo City, and 2 malls in Laguna. By the end of next year, the Sy-led mall developer said it will have 41 malls in the country, with an estimated GFA of 4.7 million sqm.

SM Prime's consolidated net income rose 8% to P5.1 billion for the first 9 months of the year as consumer spending continued to hold up owing to sustained remittance inflows.

Revenues for the period grew 14% year-on-year to P14.6 billion, with rental fees accounting for the largest share.