SM Prime Holdings Inc., the property development arm of the Sy Group, is accelerating its push to future-proof its malls, confirming it will complete the P2.3-billion redevelopment of SM City Iloilo by the first quarter of 2026—a transformation aimed at cementing the property’s role as Western Visayas’ premier lifestyle and commercial hub.
The upgrade injects more than 7,900 square meters of new gross leasable area for the mall and over 23,670 square meters for the upcoming National University (NU) campus. The redevelopment also brings refreshed mall interiors, motion-sensor escalators, an expanded skylight, a North Block multi-level carpark, and seamless connectivity to SM Strata—home to the region’s IT-BPO community and the tallest towers in Western Visayas.
“SM City Iloilo has been central to our growth and to the Ilonggo community,” SM Prime president Jeffrey C. Lim said. “This investment will help drive domestic tourism, strengthen MSMEs and unlock the city’s full potential.”
Opened in 1999 at the height of the Asian Financial Crisis, SM City Iloilo has grown from a 71,979-square-meter mall into today’s 106,307-square-meter complex following expansions from 2009 to 2016. The latest redevelopment pushes the property into its next growth cycle under SM Prime’s “All For You” strategy—introducing new zones for athleisure, entertainment and amusement to support shifting consumer habits.
The project also brings in several first-in-Iloilo concepts such as Game Park, Fantasy World, Decathlon, TGI Friday’s and Chili’s, strengthening the mall’s pull as a regional destination.
“Sustainability is also a key part of this redevelopment,” Lim added, noting the integration of rooftop solar panels and advanced daylighting systems to boost energy efficiency.
With NU set to open by 2027, SM City Iloilo is poised for higher foot traffic and a broader multigenerational appeal—solidifying its status as Western Visayas’ flagship retail and lifestyle center.
