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Friday, Mar 27, 2026
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SM Group Expands Retail Footprint with New Mall Openings in the Philippines
The opening of SM City Laoag marks the expansion of SM Prime's mall network as it strives to reach 100 malls by 2027.
The SM Group, the largest mall operator in the Philippines, has announced the opening of its 88th shopping center, SM City Laoag, scheduled for May 30, 2025. This new facility will contribute an additional 113,000 square meters of gross floor area (GFA) to the company’s extensive portfolio.
SM Prime Holdings Inc. plans to open two additional malls later in the year: SM City La Union and SM City Zamboanga, with launches anticipated in September or October and November or December, respectively.
SM City La Union is expected to provide 112,000 square meters of GFA, while SM City Zamboanga will add 91,000 square meters.
According to SM Supermalls president Steven Tan, the group allocated ₱21 billion for the expansion of its GFA this year.
Additionally, 124,488 square meters of existing mall space will undergo redevelopment to enhance the shopping experience across its locations.
Last year, SM Prime opened two malls: SM City Caloocan and SM City J Mall in Mandaue City, Cebu, collectively adding nearly 200,000 square meters to the company’s mall portfolio.
Currently, SM Supermalls manages 87 malls nationwide, featuring a total of 22,579 tenant stores, with a significant portion of its operations concentrated in Metro Manila, contributing 41 percent of the total GFA in the Philippines.
As part of its strategic vision, SM Prime aims to achieve a milestone of 100 malls by the end of 2027, with a focused expansion effort towards provincial regions, particularly in Northern Luzon, Visayas, and progressive cities in Mindanao.
The company is committed to curating an optimal tenant mix and adapting to customer preferences to meet evolving needs and aspirations.
Alongside its Philippines operations, SM Prime also manages eight malls in China, with a total GFA of 1.7 million square meters.
SM Prime Holdings Inc. plans to open two additional malls later in the year: SM City La Union and SM City Zamboanga, with launches anticipated in September or October and November or December, respectively.
SM City La Union is expected to provide 112,000 square meters of GFA, while SM City Zamboanga will add 91,000 square meters.
According to SM Supermalls president Steven Tan, the group allocated ₱21 billion for the expansion of its GFA this year.
Additionally, 124,488 square meters of existing mall space will undergo redevelopment to enhance the shopping experience across its locations.
Last year, SM Prime opened two malls: SM City Caloocan and SM City J Mall in Mandaue City, Cebu, collectively adding nearly 200,000 square meters to the company’s mall portfolio.
Currently, SM Supermalls manages 87 malls nationwide, featuring a total of 22,579 tenant stores, with a significant portion of its operations concentrated in Metro Manila, contributing 41 percent of the total GFA in the Philippines.
As part of its strategic vision, SM Prime aims to achieve a milestone of 100 malls by the end of 2027, with a focused expansion effort towards provincial regions, particularly in Northern Luzon, Visayas, and progressive cities in Mindanao.
The company is committed to curating an optimal tenant mix and adapting to customer preferences to meet evolving needs and aspirations.
Alongside its Philippines operations, SM Prime also manages eight malls in China, with a total GFA of 1.7 million square meters.
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