SM Prime Holdings Inc. expects the SM Seaside Cebu Arena to replicate the growth impact of the Mall of Asia Arena, using the new venue to drive foot traffic, spending, and activity across its Cebu property portfolio.
Cris Noel Torres, executive vice president of SM Prime, said the company does not intend to become a major player in live entertainment, but views arenas as an important piece of its integrated property strategy.
“We only hope that the opening of the Cebu Arena, that our Cebu properties can mirror the same growth that MOA experienced when MOA Arena was opened,” Torres said.
The company expects SM Seaside Cebu to be among the biggest beneficiaries as the arena draws audiences and events to the estate.
SM Prime president Jeffrey Lim said the Cebu Arena would complement, rather than compete directly with, the Mall of Asia Arena because the venues serve distinct geographic markets.
While the Mall of Asia Arena primarily draws audiences from Luzon, the Cebu venue is positioned to serve the Visayas and Mindanao, as well as visitors from neighboring countries.
Early bookings point to strong demand. Lim cited Disney on Ice, saying Cebu ticket sales have surpassed those of the Manila shows when both were launched.
Bookings are also building for the second half, while major local and international acts are expected to help establish Cebu as a regional entertainment hub.
SM Prime is still seeking a major act, including Bruno Mars, for the arena’s grand opening, although no artist has been confirmed. If the company cannot secure the right headliner this year, the opening could move to 2027.
The venue is already showing signs of commercial traction. Ten of its 24 premier suites have been booked, while 30 suites are available in total, indicating early interest from corporate and event clients.
For SM Prime, the arena’s value extends beyond ticket sales. Its larger strategic role is to strengthen the surrounding estate and create another anchor for Cebu’s long-term growth.
