SM Megamall undergoes P7-B upgrade

SM Prime Holdings Inc. (SM Prime), the Sy family’s property development company, is investing P7 billion to redevelop and further expand SM Megamall, one of the Philippines’ most iconic malls, with phased completion targeted between 2027 and 2029.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), the firm said the project is designed to elevate the customer experience while embedding long-term sustainability measures across the property.

Designed by United Kingdom (UK)-based architectural firm Benoy—known for developments like Jewel Changi in Singapore and Icon Siam in Thailand—the new SM Megamall will adopt a “Crystal Islands” concept, emphasizing natural light, open flow, and organic forms.

The redevelopment will add 20,000 square meters (sqm) of gross leasable area (GLA) and introduce nature-inspired architecture, improved mobility features, and energy-efficient systems.