SM to open three new malls next year, eyes 100 locations by 2027

Bird's eye view of SM Megamall in Mandaluyong City, Philippines — SM’s domestic mall network has grown to 87 locations. (Source: SM Supermalls)

By Kaycee Enerva December 9, 2024

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SM Prime Holdings (SMPH) subsidiary SM Supermalls plans to scale its operations by opening three new malls in Laoag, La Union, and Zamboanga next year.

SM Supermalls president Steven Tan said the company aims to have 100 malls by 2027.

“We have three mall openings for sure next year,” he continued. “We’re opening… another four or five in 2026 and another five in 2027.”

According to Tan, the gross floor area (GFA) of the Zamboanga site will be bigger than the existing SM Mindoro, which was launched in 2020 and has a GFA of around 38,000 sqm.

As of October, SM’s domestic mall network grew to 87 locations, following the recent launch of SM City J Mall in Mandaue City, Cebu.

Looking ahead, Tan expressed confidence for next year, citing the execution of plans aligned with the election season.

The company has more than ten renovation and redevelopment projects lined up next year, with some nearing completion.

“SM Mall of Asia is already at the tail end,” Tan added. “We will be launching the sky park, which would have the Fédération Internationale de Football Association-sized football field, early next year. We’ve already begun with SM Megamall,” he shared.