The continuing nationwide expansion of SM Prime Holdings Inc., with the 86th mall opening in Caloocan City, is providing a venue for growth for many small and medium enterprises and communities.
In a statement, SM said SM City Caloocan will better connect surrounding urban and rural communities, sharing borders with Quezon City, Valenzuela, and the cities of Marilao, Meycauayan, and San Jose Del Monte in Bulacan.
“SM malls are venues for businesses to thrive and these provide linkages to adjacent and surrounding communities. Our malls have transport terminals for better access to these areas,” said SM Supermalls President Steven Tan.
He added that, “The malls also serve as a hub for different brands and enterprises both local and foreign, all of which support economic activity. With the opening of SM City Caloocan, we hope to bring more connections to more families in the North Caloocan community.”
This is the first big and leading mall to open in North Caloocan, which was once deemed as "bukid area [rural area].” There are now three SM malls in Caloocan to boost the local economy.
Caloocan is identified by the Commission on Audit (COA) as one of the fastest-growing economies in the Philippines and has 65 percent of its 1.66 million residents in North Caloocan.
“There is a substantial economic impact in having SM Sangandaan, SM Grand Central and now, SM Caloocan in our city. Given the large workforce that mall operations entail, it has created jobs and more opportunities for our constituents,” said the city government.
For its part, SM said it remains committed to serving as a catalyst for local economic growth, with 80 percent of jobs in the new mall filled by residents in the community and over 7,900 employees across its three Caloocan malls in various roles.
With the new mall, two homegrown businesses, Mahiwaga Café and Elliot Bar & Restaurant, have also expanded their presence to their fifth and second branches, respectively.
Success stories from Dandy Alberto of Mahiwaga Cafe and Elisa Domingo of Elliot Bar & Restaurant offer a glimpse of the overall impact of SM on the community of Caloocan.
And through these partnerships, SM said it helps the community by providing livelihood opportunities, enabling locals to advance their careers and start their own businesses.