SM Supermalls announces plans for three new malls in 2025

SM Supermalls plans to open three new malls in 2025, located in Laoag City, La Union, and Zamboanga City. The Zamboanga mall will have a larger area than the existing SM Mindpro, which opened in 2020. The company is also redeveloping at least 10 existing malls, including renovations at the Mall of Asia and SM Megamall. These updates aim to enhance customer experience and adapt to changing shopping habits. In 2023, SM Prime's net income rose by 12% to P33.9 billion, driven by growth in the mall sector. The company aims to open 100 malls by 2027 and plans to invest up to P110 billion in expansion next year.