SM Prime to expand three regional malls in Q4

Expansions will cover Iloilo, Sto. Tomas and Naga.

SM Prime Holdings, Inc. (SM Prime) will expand three malls in the Western Visayas, Calabarzon, and Bicol Region, adding around 70,000 square metres of gross floor area (GFA) to its regional retail portfolio in Q4 2026.

The projects involve SM Prime Holdings, Inc.’s SM City Iloilo North Block, SM City Sto. Tomas in Batangas and SM City Naga.

The largest project is the SM City Iloilo North Block, which will add around 35,000 square metres of GFA as part of a mixed-use development. It will feature covered multi-level parking, ground-floor retail spaces, essential services, medical and wellness facilities, specialty stores, a convenience store, cafes and a National University campus.

In Batangas, SM City Sto. Tomas will add more than 26,000 square metres through a new third level. The expansion will include amusement concepts, restaurants, wellness establishments and retail stores, as well as a dedicated Trade Hall, co-working and meeting spaces and visual installations. Additional surface parking will also be developed.

Meanwhile, SM City Naga will undergo a two-storey expansion covering around 9,000 square metres. The project will add parking and extend the roof deck while redeveloping existing tenant areas to improve circulation and the customer experience.

All three expansions will incorporate energy- and water-efficient systems, solar panels, electric vehicle charging stations and enhanced waste management facilities as part of SM Prime’s sustainability commitments.

The projects are also expected to create employment opportunities, with local residents prioritised for available positions.

“The cities of Iloilo, Sto. Tomas and Naga are major economic hubs in their respective regions, with strong potential to attract more businesses and investment,” said Jeffrey C. Lim, president of SM Prime.

“Through these mall expansions, we aim to support their continued growth by creating more opportunities for MSMEs, generating local employment and contributing to stronger communities,” he added.