SM 100 Malls in 2027

SM 100 Malls in 2027

SM Prime Holdings is on an aggressive expansion path to solidify its position as the largest mall operator in the Philippines. Their goal of reaching 100 malls in the country by the end of 2027 is a key part of their long-term growth strategy.

Current Mall Count (as of mid-2025):
88 malls in the Philippines. SM City Laoag, which opened on May 30, 2025, was their 88th mall.
8 malls in China.
9 malls under construction (7 in the Philippines and 2 in China).
Expansion Strategy and Investment:
Provincial Focus: While SM Prime has a strong presence in Metro Manila (accounting for 41% of their total Gross Floor Area or GFA in the Philippines), their current expansion strategy is heavily geared towards the provinces. They aim to cover most of Northern Luzon, Visayas, and progressive cities in Mindanao

New Mall Openings (2025): SM Prime plans to open three new malls in the Philippines in 2025:
SM City Laoag (opened May 30, 2025)
SM City La Union (expected September/October 2025)
SM City Zamboanga (expected November/December 2025, though it might slide into Q1 2026)
Future Openings (2026-2027): SM Supermalls president Steven Tan has indicated plans to open another four or five malls in 2026 and another five in 2027, bringing them closer to the 100-mall target. Some confirmed upcoming malls include SM Neo Verde and SM City General Trias in Cavite for 2026.

SM Prime has allocated a significant budget for its 2025 expansion. They plan to invest ₱100 billion in 2025, with approximately ₱21 billion specifically earmarked for the expansion of their malls' GFA.
Gross Floor Area (GFA) Expansion: New developments are expected to add 205,400 square meters of GFA, and an additional 124,488 square meters of existing mall space will undergo redevelopment. By the end of 2025, they anticipate a total GFA of over 8 million square meters for their mall portfolio.
Redevelopment of Existing Malls: Beyond new constructions, SM Prime is also heavily investing in redeveloping and upgrading its older malls to enhance the customer experience and boost efficiency. Notable redevelopments include:
SM Mall of Asia FIFA-sized football field and sky park
SM Megamall
SM Aura Premier (new food hall and toilet renovations)
SM City Clark
Older malls in Cebu City and SM Rosales in Pangasinan.
Broader Business Strategy:
Diversified Portfolio: SM Prime's investment isn't just in malls. They are also investing heavily in their residential business (SM Residences, including new premium brands), integrated property developments, offices (like Six E-Com Center), and hospitality/MICE (meetings, incentives, conferences, and exhibitions) businesses.
Economic Outlook: The company's aggressive expansion is driven by expectations of sustained growth in consumer demand, easing interest rates, and increased tourism and election-related spending in the Philippines.
Tenant Mix and Customer Experience: Beyond physical expansion, SM's strategy emphasizes curating an optimal tenant mix and continuously evolving to meet changing customer needs and aspirations, focusing on providing a comprehensive "experience" beyond just shopping and eating.