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Manila Bulletin devider Business devider The Stock Market devider SM Prime to complete ₱2.3-billion Iloilo mall redevelopment in Q1 2026

SM Prime to complete ₱2.3-billion Iloilo mall redevelopment in Q1 2026

Published Nov 18, 2025 02:00 pm
SM Iloilo North Block
SM Iloilo North Block
SM Prime Holdings Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, expects to complete the ₱2.3-billion redevelopment of SM City Iloilo by the first quarter of 2026.
The firm said in a disclosure to the Philippine Stock Exchange (PSE) that this is in line with its broader push to transform its commercial properties into future-ready spaces that anchor regional growth.
The investment includes the addition of over 7,900 square meters (sqm) of gross leasable area (GLA) for the mall, over 23,670 sqm for National University (NU), upgraded mall interiors, motion-sensor escalators, an expanded skylight, a multi-level car park at its North Block, and improved connectivity to the adjacent SM Strata, the tallest towers in Western Visayas and home to many information technology–business process outsourcing (IT-BPO) companies.
“SM City Iloilo has been central to our growth and to the Ilonggo community. This investment will help drive domestic tourism, strengthen MSMEs [micro, small, and medium enterprises], and unlock the city’s full potential,” said SM Prime President Jeffrey C. Lim.
Opened in 1999 at the height of the Asian financial crisis, SM City Iloilo was the eighth SM supermall built by SM Prime. A series of expansions between 2009 and 2016 grew its GLA from 71,979 sqm to 106,307 sqm.
New zones for athleisure, entertainment, and amusement are being introduced to support the mall’s evolving tenant mix and growing customer base, while enhancing the overall visitor experience and attracting increased foot traffic.
The introduction of new concepts—many of which are firsts in Iloilo—such as Game Park, Fantasy World, Decathlon, TGI Friday’s, and Chili’s, is set to further strengthen SM City Iloilo’s position as the region’s leading retail and lifestyle destination.
“Sustainability is also a key part of this redevelopment. 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,” Lim said.
The presence of NU by 2027—located within the complex—is also expected to boost foot traffic and reinforce the mall’s multi-generational appeal.
Once completed, SM City Iloilo will feature expanded retail and dining offerings, welcoming new brands and lifestyle destinations that will further cement its position as the premier lifestyle mall in Western Visayas.

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SM Prime Holdings Inc. Jeffrey C. Lim
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