SM Prime Holdings Inc. targets to operate 115 malls by 2030, translating to an average rollout of four to five new malls annually, as it ramps up expansion beyond Luzon and Metro Manila into the Visayas and Mindanao.
According to SM Supermalls president Steven T. Tan, the company plans to reach 100 malls by 2027 or 2028, with at least one flagship or premier mall opening each year. While timelines remain flexible due to factors like typhoons and construction delays, Tan emphasized that SM Prime’s growth strategy includes both new mall developments and major redevelopments.
The company is investing ₱150 billion through the end of the decade to build 12 new malls and complete 16 major redevelopments, as part of its vision to create “greener, smarter, and more people-centered” destinations. These enhancements include open-air promenades, lifestyle zones, and sustainable design features.
“This new era is not about adding more malls. It is about creating destinations that matter,” Tan said, highlighting the modernization of existing landmarks like SM Mall of Asia, SM Aura, and SM Megamall, with SM North Edsa up for redevelopment as early as next year.
The mall operator expects to end 2025 with 89 malls, including its operations in China. Over the next five years, upcoming projects include SM Sta. Rosa (Nuvali) by 2026, Harrison Plaza by 2027, SM Malolos by 2028, a Cavite mall by 2029, and a new Pasay development by 2030.
“Our vision is clear. We are building the next generation of malls for the next generation of Filipinos,” said Tan.
