SM opens world’s third largest mall

The world’s third biggest shopping mall has opened in Quezon City, Philippines, a vote of confidence on the country’s economic prospects amid a global slowdown, said the owners the mall, the Sy family.

The launch of the 90,000-square-metre (22-acre) annex will make the SM City North Edsa mall the third biggest in the world with a gross floor area of 425,000 square metres (105 acres), SM Prime Holdings Inc said.

The company, a holding firm of the country’s richest man Henry Sy, also owns the world’s fourth, seventh, and 11th biggest malls, it added.

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