SM Prime earmarks P6B for a new Harrison Plaza

SM Prime Holdings Inc. (SMPH) is investing over P6 billion to redevelop the former Harrison Plaza complex in Manila. A new flagship mall is set to open by 2027.

The Sy family-led property giant said the project marks the company’s return to one of the country’s oldest commercial sites. Harrison Plaza was the Philippines’ first one-stop shopping mall.

The redevelopment forms part of SMPH’s broader P150-billion mall investment program for 2026 to 2030. This involves the upgrading of 16 malls and building 12 to 15 new lifestyle centers.

Once completed, SM Harrison Plaza will have an estimated gross floor area of more than 200,000 square meters. That is comparable to flagship malls such as SM City Davao and SM City Clark.

Green spaces

The project will feature nature-inspired architectural elements, open layouts and green spaces designed to support community and cultural activities, according to SM Supermalls president Steven Tan.

“SM Harrison Plaza will complement SMPH’s existing mall portfolio by deepening its footprint in Manila’s cultural and entertainment district,” Tan said.

SMPH said the project will serve as a mixed-use retail and lifestyle hub. It is aimed at office workers, residents and students in the nearby Malate and Ermita districts.

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The location is also expected to attract both local and foreign tourists given its proximity to key destinations such as Manila Bay, the Cultural Center of the Philippines Complex and Rizal Memorial Sports Complex.

Tenant offerings will combine international brands with local retailers to reflect the area’s character. The development is expected to generate thousands of jobs during construction and operations.

SMPH said the project will help strengthen its footprint in Manila’s cultural and entertainment district while contributing to the broader urban renewal of the city center.