SM Supermalls to open up to 4 new malls in 2026

SM Supermalls, the mall operations unit of Sy-led SM Prime Holdings Inc. (SMPH), is set to open up to four new malls this year after averaging 115 million visits a month across its nationwide network in the past year.

According to SM Prime executive vice president Cris Noel Torres, the company is looking to open three or four new malls this year, in General Trias, Cavite; Sta. Rosa, Laguna; Davao del Norte; and in Zamboanga City.

Under its roadmap, SM Supermalls aims to deliver one flagship mall every year until 2030, alongside the redevelopment initiatives across its 89 malls.

The SM Group is bullish that foot traffic will remain resilient this year, supported by its new destination concepts such as the adidas Football Park and adidas Football Specialty Store, along with the launch of Pop Mart’s first permanent Philippine store at SM Megamall.

“This year, we are bringing in new concepts that reflect how customers live, so every SM mall continues to feel personal, meaningful, and worth returning to,” SM Supermalls president Steven Tan said.

This comes as it averaged 115 million visits a month in 2025, with the peak hitting 153 million for the month of December, with 5.5 million visitors on weekends, and 4.6 million on weekdays.

“As we marked our 40th anniversary last year, we reflected not only on what we have achieved, but on what the next four decades must become,” Tan said.

“With our customers as our North Star, we are evolving all for them, transforming their most-loved SM Supermalls not just to respond to needs, but to proactively anticipate them,” he added.

SM Prime is looking to spend P100 billion this year, as it seeks to sustain the growth of its retail and commercial segments moving forward.

The company reported a 7% decline in its consolidated revenues during the fourth quarter of 2025 to P37.7 billion, while its net income was steady at P11.6 billion as it recorded a 12% improvement in its total costs and expenses.

This brought the full-year 2025 net income up 7% to P48.8 billion, as consolidated revenues grew to P141. billion on the back of the growth in its mall, residential, hotels and convention centers, and offices and warehouses businesses. — Jon Viktor D. Cabuenas/RSJ, GMA Integrated News