In line with the conglomerate’s plans to have 115 locations nationwide by the end of the decade.
Retail giant SM Supermalls, which owns the largest chain of malls in the Philippines with a total of 89 locations by the end of 2025, is planning to make its footprint bigger.
As revealed by SM president Steven Tan during a press briefing last Thursday, September 4, the group has allocated PHP150 billion for its expansion plans that will run from 2026 until 2030.
Set to be rolled out in the next five years are its slate of Premier malls, starting with SM Sta. Rosa (Yulo) in Nuvali in 2026, the Harrison Plaza in Manila by 2027, SM Malolos in Bulacan in 2028, a new mall in an undisclosed city Cavite by 2029 and another one in an unnamed Pasay location by the year 2030.
“We’re opening one flagship or one premier mall per year, not just here in Metro Manila or Luzon, we’re expanding our footprint even in the Visayas and Mindanao area,” said Tan.
He also explained that these flagship malls are normally categorized by SM as their big outletd.
“But it’s not just about the size. It’s about the completeness. Everything that you need and everything that you are looking for is there,” Tan furthered.
Tan also noted that if all goes according to plan and without any delay, SM is poised to have 100 malls by 2027 and close the decade with a total of 115 branches nationwide.
“It’s very difficult to commit, but this is just based on if everything goes smoothly. By 2030, we might hit 115 malls in total. But that is just in any case that there will be no delay and we do not encounter any unforeseen issues,” he said.
Lumping all their malls into a single category, the target will entail the group opening, on average, 4 to 5 new malls each year.
Meanwhile, redevelopment will also be a huge theme for their existing outlets, with Tan revealing that half of their capital expenditure (CAPEX) will be allocated for the program.
The said activity had already begun with the SM Mall of Asia in Pasay City, which completed its phased makeover earlier this year with the opening of its MOA Sky rooftop area.
Major works are now also underway at the SM Megamall in Ortigas, with the completion of the two major phases scheduled in 2027 and 2029.
“The next one will be no other than another star of ours, SM City North EDSA. That will follow,” the SM President noted.
Aside from the Philippines, SM Supermalls also has 8 malls in China.