Arthur Fuentes

Article (news)

SM City Iloilo

ABS-CBN News

MANILA — SM Prime Holdings, Inc. said it is nearing completion of the P2.3-billion redevelopment of SM City Iloilo, as the property giant and the Iloilo City Government also unveiled newly modernized public markets under a separate partnership aimed at revitalizing historic commercial hubs.SM Prime said the upgrade of SM City Iloilo is on track for completion by the first quarter of 2026, expanding the mall’s gross leasable area and integrating new features such as upgraded interiors, motion-sensor escalators, an expanded skylight, and a multi-level car park. The project also includes over 23,670 square meters of space for National University, targeted to open by 2027.“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.”The mall, first opened in 1999, is undergoing a tenant mix refresh under SM’s “All For You” strategy, bringing in new leisure and dining concepts including Game Park, Fantasy World, Decathlon, TGI Friday’s and Chili’s. Lim said sustainability features, including rooftop solar panels and advanced daylighting, form a key part of the redevelopment. “We are integrating eco-efficient features… as part of our broader commitment to building a greener, more energy-efficient property portfolio,” he said.Separately, SM Prime and the Iloilo City Government marked the opening of the redeveloped Iloilo Central Market and Iloilo Terminal Market, a nearly P3-billion public-private partnership launched in 2022. The project modernized more than 62,000 square meters of market space at no cost to the city.The retail giant said the SM Iloilo Terminal Market includes a lifestyle center that has a gross floor area of almost 20,000 square meters, which houses 58 long-term leasable spaces.The SM Iloilo Central Market’s community space, meanwhile, has been expanded to more than 17,000 square meters of gross floor area that blends heritage and contemporary design, the company said.“This day marks an important milestone in the history of Iloilo City, a new beginning for our vendors and shoppers,” Mayor Raisa Treñas-Chu said.SM’s Lim said the partnership underscores the company’s goal of helping local communities thrive. “Public markets play an essential role in the community and in the lives of local entrepreneurs,” he said.

SM Prime is nearing completion of the P2.3-billion redevelopment of SM City Iloilo, as the property giant and the Iloilo City Government also unveiled newly modernized public markets.

SM Prime is nearing completion of the P2.3-billion redevelopment of SM City Iloilo, as the property giant and the Iloilo City Government also unveiled newly modernized public markets.

SM eyes finishing Iloilo mall upgrade next year, highlights work in city's public markets

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SM eyes finishing Iloilo mall upgrade next year, highlights work in city's public markets

Arthur Fuentes,

ABS-CBN News

Published Nov 18, 2025 02:12 PM PHT

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SM Prime

Iloilo public market

SM City Iloilo

retail

malls

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