A top official of Shopping Center Management Corp. (SM Supermalls) said last Tuesday the company’s shopping malls will continue to evolve to meet customer needs, as higher consumer prices push people to become more picky in their spending.
Steven T. Tan, the company’s president, said SM will keep building business momentum through the introduction of new brands, cinema and entertainment acts, as well as leisure offerings that will sustain market interest.
Tan said the company is opening its 91st mall, SM Nuvali, later this year.
‘We are expanding our business footprint in the emerging growth corridor of South Luzon and Calabarzon with an innovative upscale mall concept never experienced in the Philippine market before,’ he said. ‘Our growth plan for the rest of 2026 and beyond is to continue evolving for our customers.’
SM Supermalls delivered record revenues in the first half the year, expanding 8 percent to P41.8 billion from P38.6 billion, driven by higher leasable space and tenant sign-ups, along with steady foot traffic.
Total gross leasable area grew 3 percent to 5.1 million square meters from 5 million square meters, while the number of tenants rose 4 percent to 23,174 from 22,192. Average daily foot traffic was steady at 3.7 million.
‘This gives us confidence to keep investing in spaces and experiences that respond to their changing needs,’ Tan said.
The mall operator sustained foot traffic through the addition of 41 pickleball courts in its first-half inventory, bringing up the number of its courts to 102 courts across 32 properties nationwide.
On June 12, SM Supermalls also co-hosted the Galaxy Manila Marathon, the first-ever full marathon to take over EDSA, drawing over 25,000 runners across multiple categories.
On top of these, SM also emphasized its corporate purpose of driving value to its surrounding communities through sustainable facilities developed in its malls.
From 100 megawatt peak (MWp) solar power generated through its mall rooftop solar PV system, SM has increased its capacity to 122 MWp with further plans on expansion until the end of the year. SM also recently reached 100 percent coverage for free electric vehicle charging stations across all 90 of its malls at 203 EV charging stations.