SM Prime Holdings, Inc. (SMPHI), one of the country’s giant mall developers, is now aggressively eyeing for ideal locations to build two additional SM supermalls in Cebu.

 “We are constantly monitoring our plans of expanding here. We want to be able to address the growing market base,” said Annie Garcia, SM Shopping Center Management Corporation president.

Garcia told reporters Monday SMPHI is not yet ready to reveal the future mall sites as the company is still on the look out for probable locations.

Earlier, SMPHI president Hans Sy bared SMPHI’s plan to invest P2 billion for the construction of two more branches in the province – one on northern Cebu and another in the southern part of the province.

In February last year, SMPHI has expressed great interest to purchase a huge portion of the 295-hectare reclaimed lot of the South Road Properties, a project of the City Government.

 “We’re really serious and bullish about Cebu. In fact, it’s our priority area for Visayas and Mindanao projects,” Sy said but added SMPHI and the city government has not yet arrived at a formal negotiation.

Garcia, who echoed Sy’s optimism in SM’s expansion plans fro Cebu, assured once the two malls open, it will be an added attraction to the local commercial and entertainment landscape.

Likewise she said the expansion building of SM City Cebu, dubbed the Northwing, is now more than 50 percent occupied by mall tenants.

Deviating from its traditional box-type mall development, the Northwing soft opened December last year.

Profile in the Northwing tenants include branded retail and specialty shops, and facilities such as comfort lounge, concierge and entertainment area.

The five-story expansion building utilizes about 104,000 square meters, with 168 leasable slots and four level parking spaces that accommodate close to 2,000 cars.