National University (NU), a member of the SM Group of companies, expects to reach its 100,000-student target a year earlier than anticipated and with a smaller number of campuses, as enrollment growth has been faster than planned.

“Our original plan was 20 campuses by 2028 with 100,000 [students]. But, at the rate we’re going, we’re only 14 [campuses] so far, maybe by 2027, we will be 16 [campuses], and we will hit 100,000 students,” said SM Prime Holdings Inc. (SM Prime) Chairman Hans T. Sy in an interview on Monday, Nov. 24.

The interview was conducted after he accepted the Management Association of the Philippines’ (MAP) Management Person of the Year (MPY) award for 2025, 26 years after his father and SM Group founder Henry Sy Sr. received the same award.

Sy noted that they had to revise their targets since they originally anticipated that each school would have an average of 8,000 students but, “Right now, we have to do 12,000 to 20,000 students per school.”

Because of this, he said NU had to expand some campuses due to high demand, while continuing to build new campuses in major SM malls nationwide, adding that, “The best is we still manage to keep it at the lowest tuition possible.”

Sy explained that the campuses are being built by SM Prime on mall premises, particularly on top of car park buildings, since motorists do not want to park higher than the fifth floor.

Not wanting to waste the air rights above the parking buildings, he explained that, “We decided to build a school on top of it. So, the school cost is only the building cost. No more land cost since it’s already been spent [by the mall]. So, that kind of helped subsidize a bit.”

NU is already profitable, but Sy said, “My siblings and I decided to convert NU to a non-stock, non-profit [corporation]… to show people that that was what we meant when we want to build it as my father’s legacy.”

In his acceptance speech for the MAP MPY award, Sy said, “Receiving this award is both an honor and a responsibility. It is a reminder to do more for our country. With this in mind, I will devote more time and resources to help strengthen the Philippines. I will focus on the areas where I can make a meaningful difference.”

He said he will focus first on education, followed by resilience, community building, and the future of the country.

“At the National University, we will continue expanding access to affordable, quality learning... by opening more campuses and offering more courses,” said Sy.

Meanwhile, through ARISE Philippines, the SM Group will keep working with local government units (LGUs) to strengthen disaster preparedness and climate adaptation. “We cannot stop natural calamities, but we can prevent them from causing greater harm,” he said.

For community rebuilding, Sy recounted that the Cebu earthquake damaged homes in SM Cares Village and, “After relocating the affected families and listening to the residents, we chose not to rebuild. Instead, we will build a church for the community.”

For the country’s future, he said, “We will keep investing in developments that reflect what Filipinos truly deserve: smart cities, sustainable communities, modern infrastructure, and green spaces that promote progress, inclusivity, and well-being.”

“With these efforts, I hope to honor the privilege I have been given, and the legacy of my father... who taught me everything I know and my mother who raised me to be the person I am today,” said Sy.