SM Supermalls, one of the Philippines’ largest mall operators, is investing P7 billion to redevelop its flagship SM Megamall and add thousands of parking slots, its president said Thursday.
The project is part of a P150-billion capital expenditure plan for 16 major redevelopments and 12 new malls, said Steven Tan, president of SM Supermalls.
The company aims to transform its portfolio into “greener, smarter and more people-centered destinations” by 2030, he told reporters at a briefing.
Tan said SM Supermalls plans to deliver a new flagship mall annually from 2026 to 2030.
“We categorize a flagship mall not only because it is huge. It’s not just about the size. It’s about the completeness. Everything that you need and everything that you’re looking for is there,” he said.
The company, which marks its 40th anniversary this year, is opening a new mall in La Union in October 2025 and another in Zamboanga City in March 2026.
Other projects include SM Sta. Rosa (Yulo) in Nuvali (2026), Harrison Plaza in Manila (2027), SM Malolos in Bulacan (2028), Cavite (2029) and Pasay (2030), he said.
SM will also invest a huge amount to redevelop SM North EDSA in Quezon City, Tan said.
Tan said SM has also been modernizing its existing malls with open-air promenades, lifestyle zones and sustainable features.
Tan said the opening of SM North EDSA in 1985 changed how Filipinos shopped, dined and connected. From that single vision grew a nationwide network of 88 malls, welcoming millions of visitors weekly and housing thousands of local and global brands.
SM is marking its 40th anniversary nationwide with over 4,000 exclusive partner-powered deals across all 88 malls, SM’s biggest shopping celebration yet.
“For four decades, you’ve been with us every step of the way and for that, maraming salamat,” Tan said.
“As we look ahead, we will keep evolving with you and for you. Because at SM, our success has always been shared,” he said.
