SM Prime to redevelop Megamall with $123m investment

The mall will expand by 20,000 square meter.

SM Prime Holdings, Inc. will invest $122.7m (PHP7b) to redevelop SM Megamall, with phased completion expected between 2027 and 2029.

The redevelopment, designed by UK firm Benoy, will introduce the “Crystal Islands” concept, emphasizing natural light, open spaces, and organic forms.

The mall will expand by 20,000 square meters and feature nature-inspired architecture, improved mobility, and energy-efficient systems.

Upgrades include a four-level basement parking with over 1,600 slots, wider corridors, state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court, and upgraded common areas and restrooms.

Sustainability measures include a 500-cubic-meter rainwater harvesting system, ETFE roofing, LED lighting, sensor-activated escalators, and potential solar panel installations.

SM Megamall, a major hub in Mandaluyong, will use this redevelopment to enhance customer experience and lead in sustainable mall development for the next decade.