SM Prime Holdings Inc., one of the biggest mall operators in the Philippines, announced it will spend more than P6 billion to build a brand new shopping mall called SM Harrison Plaza in Manila. The company expects the mall to open its doors to shoppers by 2027.
This announcement was made through a disclosure filed with the Securities and Exchange Commission on April 1, 2026.
What is SM Prime Building?
SM Prime is rebuilding what used to be called Harrison Plaza Complex in Manila. The original Harrison Plaza opened way back in 1976 and was actually the very first “one-stop shopping mall” in the entire Philippines – meaning it was the first place where people could buy many different things all in one building.
The new SM Harrison Plaza will be a really big mall. It will have more than 200,000 square meters of space – that’s about as big as 28 soccer fields! To give you an idea, it will be similar in size to other major SM malls like SM City Davao and SM City Clark.
Part of a Much Bigger Plan
This P6 billion project is just one piece of SM Prime’s much larger spending plan. According to the disclosure, the company is planning to invest a total of P150 billion between 2026 and 2030 on malls across the country. This huge budget will be used to:
- Make major improvements to 16 existing malls
- Build 12 to 15 brand new lifestyle malls
What Will Make This Mall Special?
Steven T. Tan, who is the president of SM Supermalls, explained that the new mall will have special features that make it different. It will include:
- Design elements inspired by nature
- Open layouts that don’t feel cramped
- Community spaces where people can gather
- Green areas for plants and trees
- Spaces designed for cultural events and social activities
Why This Location Matters
The mall is being built in Manila’s Malate area, which is known for culture and entertainment. SM Prime chose this location because it will serve many different types of people:
- Office workers who work nearby
- Residents living in Malate and Ermita neighborhoods
- Students attending schools in the area
- Both foreign tourists and local visitors
The location is particularly attractive because it’s close to several popular places including Manila Zoo, Rizal Memorial Sports Complex, the Cultural Center of the Philippines Complex, Manila Bay, and several hotels.
Stores and Jobs
According to Tan, the mall will have a mix of international brand stores and local Filipino retailers, matching the character of the Malate neighborhood.
The project is expected to create thousands of jobs – both during the construction phase when the mall is being built and later when it opens and needs employees to run the stores and facilities. The company also believes the mall will help improve and renew the broader Manila city center area.
About SM Prime Holdings Inc.
SM Prime is a company listed on the Philippine Stock Exchange under the ticker symbol SMPH. According to the disclosure, the company has 28,736,516,094 common shares outstanding with a par value of P1 per share. The company is registered with the SEC under registration number AS094-000088.
SM Prime’s main office is located at the 7th Floor of MOA Square, Seashell Lane corner Coral Way, Mall of Asia Complex, in Pasay City.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
