SM Prime to Invest ₱33 Billion in Mall and Commercial Expansion

SM Prime Holdings Inc. is set to invest ₱33 billion this year to expand its malls, office spaces, and hospitality portfolio, banking on economic growth and rising consumer demand.

Breakdown of Investments

🏢 ₱21 Billion – Mall Expansion & Redevelopment
🔹 205,400 sqm of new gross floor area (GFA) to be added
🔹 124,488 sqm of existing malls to undergo redevelopment
🔹 Projected total mall GFA by year-end: 8.08 million sqm

🏨 ₱6 Billion – Hospitality & MICE Development
🔹 2 new convention centers
🔹 Hotel room renovations
🔹 New food & beverage facilities in existing hotels

🏢 ₱6 Billion – Office Tower Expansion
🔹 New office spaces, including the Six E-Com Center, a Grade A office complex at the Mall of Asia Complex, Pasay City

Economic Outlook & Growth Strategy

📈 SM Prime President Jeffrey Lim expects moderating inflation, lower interest rates, and election-related spending to drive growth in 2025.

“Our malls should do well, and our office, hotel, and convention centers could provide additional upside,” Lim said.

With 87 shopping malls nationwide, SM Prime is strategically positioned to capture increased consumer spending amid rising foot traffic and retail demand.

This expansion underscores SM Prime’s commitment to enhancing its commercial properties and maintaining its leadership in the real estate sector.