SM City Nuvali is approaching full leasing commitment months ahead of its planned fourth-quarter 2026 opening, underscoring robust demand for large-scale regional retail developments, according to SM Supermalls leadership.
SM Supermalls president Steven Tan said the project’s nearly 80,000-square-meter gross leasable area (GLA) is now close to fully occupied, with tenant interest exceeding available space.
“The bigger challenge now is the availability of space,” Tan noted during a media briefing, adding that many prospective tenants can no longer be accommodated.
Positioned as both a flagship and premium destination, the Nuvali mall is designed to serve a high-spending catchment area in Sta. Rosa, Laguna.
Tan said early foot traffic trends observed in March and April signal sustained consumer activity in the region, supporting confidence in the mall’s long-term performance.
Leasing rates have remained steady despite strong demand, while the tenant mix continues to balance global and local brands.
Dining is expected to be a key driver of differentiation, accounting for more than 30 percent of tenants. Curated food offerings, including concepts such as Song Thai, are intended to elevate the mall’s culinary experience.
SM Prime Holdings Inc. is positioning the Nuvali development as part of a broader provincial expansion strategy.
Company president Jeffrey C. Lim said the project marks the first of five flagship malls scheduled for rollout annually from 2026 to 2030, reflecting sustained confidence in growth markets outside Metro Manila.
The pipeline includes SM City Harrison Plaza in 2027, followed by developments in Malolos and Bay City by 2030, as well as a longer-term site in Silang—reinforcing the group’s push into high-growth regional corridors.
