SM Prime Holdings, Inc. (SM Prime), one of Southeast Asia’s leading integrated property developers, is on track to complete the P2.3 billion redevelopment of SM City Iloilo by the first quarter of 2026. This significant investment aligns with SM Prime’s strategy to transform its commercial properties into future-ready, sustainable spaces that serve as anchors for regional economic growth.
The comprehensive renovation significantly upgrades the facility and expands its offerings, reinforcing SM City Iloilo’s position as the premier retail and lifestyle destination in Western Visayas.
The P2.3 billion capital expenditure will deliver:
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Expanded Retail Space: An addition of over 7,900 square meters of Gross Leasable Area (GLA), creating opportunities for new and exciting concepts.
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National University (NU): Over 23,670 square meters is being allocated for the presence of National University (NU) by 2027, which is expected to substantially boost foot traffic and reinforce the mall’s multi-generational appeal.
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Enhanced Connectivity and Parking: A new multi-level car park at the North Block and improved connectivity to the adjacent SM Strata, the tallest towers in Western Visayas and home to many IT-BPO companies.
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Modern Features: Upgraded mall interiors, motion sensor escalators, and an expanded skylight for better natural lighting.
“SM City Iloilo has been central to our growth and to the Ilonggo community since its opening in 1999,” said SM Prime President Jeffrey C. Lim. “This investment is a testament to our confidence in Iloilo’s potential. It will not only help drive domestic tourism and strengthen MSMEs but also unlock the city’s full economic potential.”
Guided by the company’s ‘All For You’ strategy, the redevelopment introduces new zones focused on athleisure, entertainment, and amusement, catering to a growing customer base and evolving tenant mix.
The mall will welcome a variety of new and exciting concepts, many of which are firsts in Iloilo, including:
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Entertainment: Game Park, Fantasy World
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Retail: Decathlon
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Dining: TGI Friday’s and Chili’s
Upon completion, SM City Iloilo’s total GLA will further expand from its previous 106,307 square meters, offering expanded retail and dining options and cementing its status as the leading lifestyle hub in the region.
SM Prime is also integrating eco-efficient solutions into the redevelopment to ensure long-term resilience and operational efficiency.
“Sustainability is a key part of this redevelopment,” added Mr. Lim. “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 across our nationwide network.”
