SM Prime to add 70,000 sqm to regional mall portfolio

SM Prime Holdings, Inc. is expanding its regional retail portfolio by adding approximately 70,000 square meters of gross floor area across three malls in the Philippines. The expansions, scheduled for completion in the fourth quarter of 2026, target the Western Visayas, Calabarzon, and Bicol regions.

The largest project is the SM City Iloilo North Block, which will add roughly 35,000 square meters as part of a mixed-use development. This expansion will include multi-level parking, retail spaces for essential and medical services, specialty stores, and a National University (NU) campus.

In Batangas, SM City Sto. Tomas will add over 26,000 square meters through a new third level featuring amusement concepts, restaurants, a Trade Hall, and co-working spaces. Additionally, SM City Naga will undergo a two-storey expansion of approximately 9,000 square meters to improve circulation and parking.

SM Prime President Jeffrey C. Lim stated that the expansions aim to support the growth of these economic hubs by creating opportunities for MSMEs and generating local employment.