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Manila Bulletin devider Business devider The Stock Market devider SM Prime looking at building hotel beside new mall in Laoag City

SM Prime looking at building hotel beside new mall in Laoag City

Published May 28, 2025 10:51 am
SM Prime Holdings, Inc. (SM Prime), one of Southeast Asia’s largest integrated property developers, is considering the construction of a hotel in Laoag City to complement the mall it will be opening on May 30, 2025.
In a disclosure to the Philippine Stock Exchange, the firm said it is opening SM City Laoag, its 88th shopping mall in the Philippines that adds 51,000 of square meters of gross leasable space to the company’s portfolio.
SM Prime added that it is also studying a complementary hotel development in Laoag to tap into the area’s growing tourism and MICE potential, expanding its footprint beyond retail in Northern Luzon.
SM City Laoag will be the firm’s first mall in Ilocos Norte, marking the property conglomerate’s latest push into high-growth regional corridors.
The mall is strategically located along Airport Road, just minutes from the city center and near Laoag International Airport. Surrounded by established commercial zones and growing residential developments, the mall is poised to become a new urban anchor for Northern Luzon.
The three-level complex opens with 90 percent of its space already lease-awarded and is expected to generate approximately 4,000 jobs for Ilocanos across retail, operations and support services.
“The opening of SM City Laoag reinforces our commitment to bring modern, accessible and community-oriented retail experiences to underserved but fast-growing areas. We’re excited to support the region’s economic momentum,” said SM Prime president Jeffrey Lim.
Ilocos Norte posted an 8.6 percent economic growth rate in 2024—the fastest among provinces in Region I—driven by gains in services, accommodation and transport.
SM City Laoag features a robust tenant mix, including SM Store, SM Supermarket, SM Cinema, Ace Hardware, Pet Express, Miniso and BDO. Retail and lifestyle brands include Levi’s, Columbia, Adidas, Watsons and Parfois.
The mall will also host global and local dining concepts such as TGI Fridays, Vikings, Marugame Udon, Café Amian and Milk Pot.
A central open-air park, “Dap-ayan,” named after the Ilocano word for gathering place, will serve as a community space for events and leisure.

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