BIZ BUZZ: PSC, SM check out Rizal Memorial

Something big may be brewing in Manila’s sports district—and it’s not just another face-lift.

Philippine Sports Commission (PSC) and SM Prime Holdings Inc. are quietly exploring a partnership that could reshape the aging Rizal Memorial Sports Complex into a modern sports and lifestyle hub.

Nothing is signed yet. But the optics already say a lot.

SM Prime chair Hans Sy himself toured the complex with PSC Chief Patrick Gregorio—a signal that this is more than a courtesy visit. In this space, site visits usually come before serious capital.

“This is a perfect partnership with world-class development. We realized how important, how historic and iconic the Rizal Memorial Sports Complex is. We all understand that we have to do this together, and we have to do this now,” Gregorio said.

The pitch is straightforward: Preserve the 92-year-old complex’s heritage while giving it a commercial and sports-driven upgrade. Think less “renovation,” more “reinvention.”

For SM Prime, the move fits neatly into its broader push into sports infrastructure—from arenas to ice rinks. For the PSC, it’s about accelerating upgrades without relying solely on public funds.

And timing matters. The government has been ramping up efforts to position sports facilities as tourism drivers, while private developers are hunting for the next big mixed-use play beyond malls.

The Rizal complex checks both boxes: Prime location, historic value and underutilized real estate.

Add to that SM’s parallel redevelopment of nearby Harrison Plaza, and the pieces start to form a larger district play—one that blends sports venues, retail and lifestyle spaces into a single ecosystem.

Still, questions linger. How far will commercialization go? And can heritage preservation keep pace with large-scale development?