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sm north condoSM City North EDSA： Celebrating 30 Years of Transformative Retail Development
SM City North EDSA, one of the most iconic shopping malls in the country, has been the epitome of how SM malls have transformed to meet the shifting needs and demands of consumers in a dynamic Philippine retail environment.From a footprint of only 125,000 square meters on opening in 1985, SM’s very first mall has grown in size to almost 498,000 square meters, housing more stores, concepts and ideas in keeping with today’s consumer trends and preferences.Speaking before SM’s retail partners during the 30th anniversary of SM Supermalls last October, SM Prime Holdings President Hans T. Sy said that the retail landscape in the last thirty years “has become more global and competitive where technology has forever changed the way we live and do things.”Opened in November 1985, SM City North EDSA is SM Founder Henry Sy’s first shopping mall and is now the largest in the Philippines.“Ever the visionary, my father thought of building malls when he saw the shopping center development in the US during his business trips abroad in the 1950s and 1960s. That was the time when ‘burbs’ or suburbs were being built in the outskirts of big cities with a shopping mall as the center. He saw this development from the east to the west coast and knew this would happen in the Philippines,” Sy said.SM North EDSA was completed by Henry Sy, Sr. amidst one of the most turbulent times in Philippine history. Sy recounted that when his father started building SM City North EDSA in 1983, people thought it was a crazy idea as it happened during a political crisis where interest rates rocketed to as high as 45%. More so, the location of the mall was right smack in the middle of marshland on North EDSA.“They said that SM City would not succeed, but the mall was an instant success. And the rest they say is history,” Sy told retail partners.Creating shared valueSM City North EDSA proved to be highly successful and transformative for its host communities. With new business opportunities, the mall hastened economic activity and infrastructure development to and from Manila and nearby provinces as it was touted as an important regional destination.Proof of its impact, the value of property in the area showed exce……
