As ‘ber’ months start
MANILA, Philippines — SM Supermalls, the country’s largest mall developer, expects to sustain its strong business performance as the so-called “ber” months begin and is slated to open a new flagship mall in the latter part of the year.
With the opening of SM Nuvali on Nov. 27, SM Supermalls will end the year with 91 shopping centers in the Philippines.
“With the upcoming opening of our 91st mall, SM Nuvali, 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,” SM Supermalls president Steven Tan said.
Tan said SM Nuvali would feature a one-hectare indoor garden that uses the same technology as Singapore’s Gardens by the Bay.
“SM Nuvali is something I myself have never seen anywhere in the world. It will have a one-hectare indoor garden. Surrounding it are all the restaurants, casual dining restaurants, that have a view of the indoor garden. The indoor garden is air-conditioned, and we will use technology to make sure that the sunlight comes in, but the heat does not come in,” he said.
Tan said SM Supermalls’ growth plan for the rest of 2026 and beyond is to continue evolving for its customers.
He said SM would keep building business momentum by introducing exciting new brands, cinema and entertainment acts and leisure offerings that would sustain market interest.
“We’re very optimistic about (the remainder of 2026). As with what happened in the first six, seven months of the year, it has always been very positive,” Tan said.
Despite recent heavy rains and flooding, Tan said foot traffic at SM malls has remained steady.
“It’s September already, and we all know that the longest celebration of Christmas is here in the Philippines. So despite all the challenges we’re encountering, with all the floods and all these things in our country, you cannot take away merrymaking or the spirit of Christmas. We really try to make our centers more festive, so that everybody can come,” Tan said.
“That is really our objective this Christmas or this holiday season, to put a smile on everyone’s face upon entering our shopping center,” he added.
Higher leasable space and tenant sign-ups, along with steady foot traffic, enabled SM Supermalls to deliver record revenues, reaching nearly P42 billion in the first half, up by eight percent from P38.6 billion in the same period in 2025.
Average daily foot traffic was steady at 3.7 million. Total gross leasable area grew by three percent year-on-year to 5.1 million square meters, while the number of tenants improved by four percent to 23,174.
Last year, SM announced that it is investing over P150 billion in 16 major redevelopments and 12 new lifestyle malls to ensure that its entire portfolio evolves into greener, smarter and more people-centered destinations by 2030.