Retail giant SM Prime Holdings (SMPH) is doubling down on its mall empire with a massive ₱150 billion investment plan through 2030. The strategy includes 12 new lifestyle malls and 16 redevelopments, with the goal of hitting 100 malls by 2027 and 115 malls by 2030 (from 88 today).
Flagship projects lined up:
- SM Santa Rosa (Yulo) in 2026
- Harrison Plaza redevelopment in 2027
- SM Malolos in 2028
- New Cavite mall in 2029
- SM Pasay flagship in 2030
Meanwhile, iconic properties like SM Megamall and SM North Edsa are getting ₱9 billion each for major upgrades.
SMPH President Steven Tan said the expansion is designed to meet growing consumer demand for integrated lifestyle destinations that blend shopping, dining, and leisure. Analysts see the plan translating to around 5% annual growth in gross leasable area (GLA), slightly above previous projections.
What this means for you: Expect bigger, more modern malls with more dining, entertainment, and retail options. But behind the glitz, SMPH’s dominance could also mean smaller local retailers face tougher competition.