SM optimistic on sustained strong performance
SM Supermalls, the country’s largest mall developer, expects to sustain its strong business performance as the so-called “ber” months begin and is slated to open a new flagship mall in the latter part of the year.
Manila, Philippines — The largest mall developer in the country, SM Supermalls, anticipates continuing its robust business performance as the "ber" months commence, with the opening of a new flagship mall slated for late in the year. By November 27, SM Supermalls will have 91 shopping centers in the Philippines. Steven Tan, SM Supermalls president, stated that the upcoming opening of SM Nuvali will expand their business footprint in South Luzon and Calabarzon with a novel upscale mall concept unseen in the Philippine market.
The mall will feature a one-hectare indoor garden, incorporating Singapore's Gardens by the Bay technology, providing a view of restaurants with indoor garden views. SM Supermalls' growth strategy for the remainder of 2026 and beyond involves evolving for customers by introducing new brands, cinema, entertainment acts, and leisure offerings to maintain market interest.
Despite heavy rains and flooding, SM mall foot traffic has remained steady, with SM optimistic about 2026, as the first six months of the year have been positive. Despite challenges, SM Supermalls delivered record revenues of nearly P42 billion in the first half, an 8% increase from P38.6 billion in the same period in 2025. The average daily foot traffic remained steady at 3.7 million, and total gross leasable area grew by 3% year-on-year to 5.1 million square meters, with the number of tenants increasing by 4% to 23,174.
SM has also announced investments of over P150 billion in 16 major redevelopments and 12 new lifestyle malls to make their entire portfolio greener, smarter, and more people-centered destinations by 2030.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
