SM Prime Holdings Inc., the real estate development arm of the Sy Group, is investing P7 billion to transform SM Megamall, one of the Philippines’ most iconic shopping destinations, into a next-generation lifestyle hub, with phased completion slated between 2027 and 2029.
The redevelopment plan aims to elevate customer experience while embedding sustainability features. The masterplan, developed by renowned UK-based architectural firm Benoy—whose global portfolio includes Jewel Changiand Icon Siam—adopts a “Crystal Islands” design concept, emphasizing natural light, open circulation, and organic forms.
The project will add 20,000 square meters of gross leasable area, alongside themed retail zones, improved mobility features, intuitive wayfinding, and nature-inspired architecture. A new four-level basement parking structure will offer over 1,600 slots, while wider corridors, expanded ceilings, and modernized vertical transport systems will improve crowd flow and comfort.
Key upgrades include relocated state-of-the-art cinemas, a reimagined Megatrade Hall, redesigned food court, and upgraded common areas and restrooms. Sustainability features are integral: the mall will incorporate a 500-cubic-meter rainwater harvesting system, energy-efficient mechanical systems, ETFE roofing, skylights, and clerestory windows to reduce lighting and cooling needs.
As with existing areas, LED lighting and sensor-activated escalators are expected to deliver up to 50 percent and 30 percent energy savings, respectively. Solar panel installations are also under study as part of SM Prime’s broader decarbonization efforts.
SM Megamall, a key anchor in Mandaluyong’s central business district, continues to serve millions of visitors annually.
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