SM Prime Holdings is set to inaugurate four new malls this year, all located outside Metro Manila, coinciding with a surge in visits to its properties that reached 1.4 billion in 2025.
The country’s largest mall operator confirmed that two of the new malls will rise in Mindanao—SM Zamboanga and SM Tagum—while the other two will open in Southern Luzon—SM General Trias and SM Sta. Rosa.
A major development is also underway in Manila, with a new mall on the site of the former Harrison Plaza scheduled for completion next year.
“Harrison is actually on its way as well in terms of construction and development. And then we have other malls, particularly those being developed for the last three years across Pasay and Bulacan,” said Joaquin San Agustin, SM Supermalls Executive Vice President for Marketing.
SM Supermalls reported an average of 115 million visits per month nationwide, peaking at 153 million in December 2025. Daily foot traffic averaged 5.5 million on weekends and 4.6 million on weekdays.
This marked an increase from 2024’s daily average of 5.2 million, up from 4.9 million in 2023, attributed to “innovative property attractions complemented by a dynamic tenant mix.”
In 2025, SM unveiled MOA Sky, a rooftop park at the Mall of Asia, and welcomed new tenants such as Christy Ng, Funko, and Vivaia.
The company expects continued strong traffic in 2026, driven by “destination” stores like the adidas Football Specialty Store and Pop Mart’s first permanent store in the Philippines.
SM Prime Holdings President Jeffrey Lim expressed optimism despite challenges in the retail sector.
“These expansions, together with our strong balance sheet, recurring income, and project pipeline, will allow us to perform well despite a more cautious operating environment,” he said.
The company acknowledged that infrastructure scandals affecting government spending have impacted retail activity, though remittances from overseas Filipinos and growth in the BPO sector continue to support demand.
SM Prime reported a 7% increase in net income in 2025, totaling ₱48.8 billion.