SM Prime Holdings Inc. (SM Prime) said it is investing P7 billion to redevelop its SM Megamall in Mandaluyong City, with phased completion targeted between 2027 and 2029.
The company told the Philippine Stock Exchange (PSE) that the project is designed to elevate the customer experience while embedding long-term sustainability measures across the property.
“The redevelopment will add 20,000 square meters (sq.m.) of gross leasable area and introduce nature-inspired architecture, improved mobility features and energy-efficient systems,” it said.
“The addition of themed retail zones and intuitive wayfinding is designed to make the mall more accessible, while encouraging visitors to explore and discover new experiences throughout the expansive complex,” it added.
After the redevelopment, SM Megamall will have a new four-level basement parking facility with over 1,600 slots, expanded walkways and ceilings, and improved circulation through wider corridors and modernized vertical transport, the company said.
The redevelopment will also include “relocated state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court and upgraded common areas and restrooms.”
SM Prime said a 500-cubic-meter-capacity rainwater harvesting system will also be put up to support water conservation, while upgrades to the mall’s mechanical systems are expected to reduce overall energy consumption.
“ETFE roofing will be used to let in natural light and reduce cooling costs, while skylights and clerestory windows will minimize artificial lighting. As with existing areas, energy-efficient LED lighting and sensor-activated escalators will deliver up to 50 percent and 30 percent energy savings, respectively,” the company added.
Ethylene Tetrafluoroethylene or ETFE is a lightweight, transparent plastic polymer used for roofing systems.
“Solar panel installations are also under evaluation as part of SM Prime’s broader carbon reduction efforts,” the company added.
