SM Prime cues 4 new malls for 2026 opening 

SM Prime Holdings is planning to open up to four new malls this year, reinforcing its bet on the retail segment as its main growth driver amid resilient consumer activity.

Company executives said the mall business would continue to anchor SM Prime’s expansion in 2026. This is backed by strong tenant demand and improving shopper traffic.

“We’re looking to open three, if not four, new malls this year,” SM Prime executive vice president Cris Noel Torres said during a recent briefing.

Torres noted that occupancy and financial performance of its malls were nearing record levels.

SM Prime said the new malls will be in General Trias, Cavite; Sta. Rosa, Laguna; Tagum, Davao del Norte; and Zamboanga City.

“Our malls are stronger than ever. High tenant demand, occupancy is almost at an all-time high, and revenue and net profit are also at an all-time high for our mall business,” Torres said.

SM Prime’s optimism comes as retail and service sectors remain key drivers of economic activity.

The company said foot traffic across its malls remained steady in the early weeks of 2026, translating to consistent tenant sales.

Reinforcing the resilience of its mall-anchored business, SM Prime grew its net income last year by 7 percent. This topped the bottom line in 2024, which was then likewise a banner year.

Beyond malls, SM Prime expects contributions from its offices, hotels and residential businesses.

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The company said its residential unit would focus on completing ongoing developments and advancing its premium “Signature Series” projects.

Meanwhile, hotels and convention centers are seen to benefit from increased event activity. This, particularly as the Philippines hosts this year the Association of Southeast Asian Nations (Asean) Summit, which is expected to boost revenues.

Despite expansion plans, SM Prime said it was not prioritizing land acquisitions, especially in Metro Manila, citing its ample existing pipeline.

The company added that it would only pursue new assets if these meet its integrated development strategy and investment return requirements.