SM Prime Holdings is preparing to reshape the events landscape in the Visayas with a new convention center in Cebu, drawing renewed optimism from investors at a time when the property sector is searching for stronger engines of growth.
SM Hotels and Conventions Corp. has committed three point six billion pesos to build the SMX Seaside Cebu, a six storey venue that will add twenty one thousand square meters of leasable space and more than eighteen thousand seats to the region’s meetings and conventions market. The project is anchored on the strong post pandemic rebound of the MICE industry, which has outpaced expectations as businesses return to in person events.
This expansion is highly strategic. Cebu continues to attract global companies, BPO operators and international gatherings that spill over from Metro Manila’s crowded event spaces. The completion of SMX Seaside also strengthens South Coast City, SM’s twenty six hectare mixed use development that combines retail, residential and entertainment offerings.
For investors, the move reinforces SM Prime’s ability to execute long horizon projects even as market conditions fluctuate. Convention centers currently account for only one percent of SM Prime revenues, but analysts believe that this segment can grow faster as domestic tourism and corporate travel rise.
For local businesses, a larger and more modern convention hub means greater foot traffic, more hospitality jobs and additional revenue streams for hotels, restaurants and transport operators. Cebu’s expanding MICE footprint can also drive more airlines to increase flights to Mactan Cebu International Airport, stimulating broader regional activity.
The project will not be completed until late 2026, but it signals the continued confidence of property giants in Cebu’s long term economic significance.