SM Prime Expands Regional Malls

SM Prime Holdings, Inc. is strengthening its regional presence with major expansion projects across three malls in Western Visayas, Calabarzon, and the Bicol Region, adding approximately 70,000 square meters of gross floor area to its retail portfolio by the fourth quarter of 2026.

The developments at SM City Iloilo, SM City Sto. Tomas, and SM City Naga are designed to accommodate more retail, dining, entertainment, wellness, and commercial concepts while creating additional opportunities for local businesses and employment.

Jeffrey C. Lim, President of SM Prime, said Iloilo, Sto. Tomas, and Naga are important economic centers with significant potential to attract new businesses and investments. He noted that expanding the malls will help support economic activity, provide opportunities for micro, small, and medium enterprises, and contribute to local job creation.

Leading the expansion is SM City Iloilo North Block, which will add around 35,000 square meters of gross floor area. Developed as part of a mixed-use complex, the North Block will introduce new spaces and services aimed at addressing the needs of shoppers, students, professionals, and the surrounding community.

The development will feature accessible covered multi-level parking as well as ground-floor spaces for essential services. Its tenant mix will include medical and wellness establishments, specialty stores, a convenience store, and a café. A National University campus will also form part of the development, further broadening the property’s role beyond shopping and leisure.

In Batangas, SM City Sto. Tomas is expanding upward with the construction of a third level that will add more than 26,000 square meters to the mall.

The new floor will welcome additional restaurants, retail stores, wellness establishments, and amusement concepts. It will also feature a dedicated Trade Hall along with co-working and meeting spaces and visual installations. Additional surface parking will be constructed to accommodate the mall’s expanded capacity.

Meanwhile, SM City Naga is preparing a two-storey expansion covering approximately 9,000 square meters. Aside from providing additional commercial space, the project will incorporate expanded parking and a roof deck extension.

Existing tenant areas will also be redeveloped to improve customer circulation and provide shoppers with a more convenient and comfortable mall experience.

Sustainability will be incorporated across all three projects as part of SM Prime’s continuing environmental commitments. The expanded properties will feature energy- and water-efficient systems, solar panels, electric vehicle charging stations, and improved waste management facilities.

Beyond increasing SM Prime’s regional retail footprint, the projects are expected to contribute to the economies of their host communities. Local residents will be prioritized for employment opportunities generated by the developments, while additional commercial spaces will provide businesses with new avenues to reach customers.

With the three expansions, SM Prime continues to position its malls as evolving community destinations that combine shopping, services, workplaces, education, entertainment, and other everyday needs while supporting economic activity in key growth centers outside Metro Manila.