SM Prime nears P2.3-billion SM City Iloilo redevelopment completion

Property developer SM Prime Holdings Inc. (SMPH) is close to completing the P2.3 billion redevelopment of SM City Iloilo, the company disclosed on Tuesday.

The investment is part of SMPH’s strategy to modernize its commercial properties and support regional economic growth in the Philippines’ Western Visayas region.

The redevelopment includes over 7,900 square meters of additional gross leasable area for the mall and more than 23,670 square meters for National University, which will rise within the complex by 2027.

“SM City Iloilo has been central to our growth and to the Ilonggo community,” said SMPH president Jeffrey Lim.

“This investment will help drive domestic tourism, strengthen MSMEs and unlock the city’s full potential,” he said.

Upgrades to the mall include refreshed interiors, motion-sensor escalators, an expanded skylight, a multi-level car park at the North Block and improved connectivity to the adjacent SM Strata towers, the tallest in Western Visayas and a major IT-BPO hub.

The redevelopment will also add new zones for athleisure, entertainment and amusement. New concepts like Game Park, Fantasy World, Decathlon, TGI Friday’s and Chili’s are expected to reinforce the mall’s status as the region’s leading retail and lifestyle destination.

Sustainability is also a key feature of the project. “Sustainability is also a key part of this redevelopment,” Lim said.

“We are integrating eco-efficient features, including rooftop solar panels and advanced daylighting systems, as part of our broader commitment to building a greener, more energy-efficient property portfolio,” he said.

The entry of National University is expected to increase foot traffic and strengthen the mall’s multi-generational appeal once it opens in 2027. SM City Iloilo first opened in 1999 as SMPH’s eighth supermall. Previous expansions between 2009 and 2016 increased its gross leasable area from 71,979 square meters to 106,307 square meters.