SM SUPERMALLS, a unit of SM Prime Holdings, Inc., plans to open three new malls next year and aims to have 100 malls in its portfolio by 2027, its president said.
‘Next year we will have at least three store openings’ SM Supermalls president Steven Tan told reporters on the sidelines of a media event in Mandaluyong City on Wednesday.
“That would be in Laoag, La Union and Zamboanga,” he added.
Mr Tan said SM may have 100 shopping centers in its portfolio by 2027.
“We are opening… another four or five (malls) in 2026 and another five in 2027,” he said.
“We should be able to reach 100, but I don’t want to say it’s a certain number that we will have,” he added.
In October, SM expanded its domestic mall network to 87 with the launch of SM City J Mall in Mandaue City, Cebu.
On the company’s performance in the fourth quarter, Mr Tan said films boosted SM Supermalls’ results.
“The fourth quarter was very good. We are very happy with the results. We’ve been watching November and it’s never been better. Maybe it’s because of movies like Bad, Moana 2, or Hello, Love, Again. The malls are full of people,” he said.
“The projection for December is also quite good because we still have the Metro Manila Film Festival. I have a lot of confidence in the outcome of December. Until September, the film industry was a bit gloomy. But then it peaked. Our numbers at this point have already surpassed last year’s numbers,” he added.
On his prospects for next year, Mr Tan said: “2025 will be a good year for us; It is also election time.”
SM Supermalls has more than ten renovation and redevelopment projects planned for next year, with some nearing completion and others just beginning.
“SM Mall of Asia is already in the tail end. We are going to launch the Sky Park, with a football field the size of the Fédération Internationale de Football Association (FIFA). That will be launched early next year. We have already started SM Megamall,” Mr Tan said.
“SM Aura Premier is already being renovated with the new food hall and we have started with all the toilets. We will also begin the redevelopment of SM City Clark,” he noted.
On Thursday, SM Prime shares rose 0.38% or ten centavos to P26.20 per share. — Revin Mikhael D. Ochave