SM Prime Holdings, Inc. (SM Prime) is on track to complete the P2.3 billion redevelopment of SM City Iloilo by the first quarter of 2026, in line with its broader push to transform its commercial properties into future-ready spaces that anchor regional growth.

The investment includes the addition of over 7,900 square meters of gross leasable area (GLA) for the mall, over 23,670 square meters for the National University (NU), upgraded mall interiors, motion sensor escalators, an expanded skylight, a multi-level car park at the North Block and improved connectivity to the adjacent SM Strata, the tallest towers in Western Visayas and home to many IT-BPO companies.

“SM City Iloilo has been central to our growth and to the Ilonggo community,” said SM Prime president Jeffrey C. Lim. “This investment will help drive domestic tourism, strengthen MSMEs, and unlock the city’s full potential.”

Opened in 1999 at the height of the Asian Financial Crisis, SM City Iloilo was the eighth SM Supermall built by SM Prime. A series of expansions between 2009 and 2016 grew its GLA from 71,979 square meters to 106,307 square meters.

Guided by ‘All For You’ strategy, new zones for athleisure, entertainment and amusement are being introduced to support the mall’s evolving tenant mix and growing customer base, while enhancing the overall visitor experience and attracting increased foot traffic.

The introduction of new and exciting concepts—many of which are firsts in Iloilo—such as Game Park, Fantasy World, Decathlon, TGI Friday’s and Chili’s, is set to further strengthen SM City Iloilo’s position as the region’s leading retail and lifestyle destination.

“Sustainability is also a key part of this redevelopment,” said Lim. “We are integrating eco-efficient features, including rooftop solar panels and advanced daylighting systems, as part of our broader commitment to building a greener, more energy-efficient property portfolio.”

The presence of NU by 2027—located within the complex—is also expected to boost foot traffic and reinforce the mall’s multi-generational appeal.

Once completed, SM City Iloilo will feature expanded retail and dining offerings, welcoming new brands and lifestyle destinations that will further cement its position as the premier lifestyle mall in Western Visayas.