Crowds gathered at the MOA Amphitheater for the fan meet of K-pop singer Jay B on March 1, 2025.

(March 11, 2025, Pasay City, Philippines) – SM Supermalls, the mall operations unit of SM Prime Holdings, recorded an all-time high in average daily foot traffic in 2024, increasing by 6% from 4.9 million to 5.2 million. Favorable economic conditions, mall and tenant expansion and a strong mix of entertainment and in-mall events contributed to the record performance.

“This milestone reflects the trust and loyalty of our shoppers, the strength of our tenant partnerships and the evolution of our malls as vibrant community hubs,” said SM Supermalls president Steven T. Tan.

By the end of 2024, SM Supermalls had 22,579 tenant stores. Nearly 70% of these are micro, small and medium enterprises (MSMEs), making SM Supermalls the largest marketplace for MSMEs in the Philippines.

Throughout the year, SM Supermalls also welcomed new foreign brands. Among them were Disney Store, National Geographic, Nitori and Paris Baguette.

In 2024, SM Supermalls expanded its footprint with the opening of two new malls. SM City Caloocan debuted on May 17, covering 53,577 square meters across three levels. Later in the year, SM J Mall, the 87th SM mall in the country, opened on October 25, offering 78,229 square meters of retail space across four levels.

This year, SM malls will continue to attract visitors by hosting large-scale events, regular activities and exciting new attractions. These include weekly job fairs, the launch of MOA Sky and Sky Bark, fan meets and SM Little Stars—the country’s biggest and longest-running mall-based kiddie talent search.

Weekend crowd at SM Dasmariñas, the second SM Supermall in Cavite.

For 2025, approximately ₱21 billion has been allotted for the expansion of SM Supermalls’ gross floor area (GFA). New developments will add 205,400 square meters of GFA, while 124,488 square meters of existing mall space will undergo redevelopment.

“As we enter SM’s Bold New Era, our expansion strategy remains focused on strengthening our presence in key areas, curating an optimal tenant mix and continuously evolving with our customers to meet their changing needs and aspirations,” Tan added.

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For further information, please contact:

John Nai Peng C. Ong
Chief Finance Officer
SM Prime Holdings, Inc.
E-mail: [email protected]
Tel. no.: 8831.1000 loc. 7886

Forward-looking Statement

This document may contain forward-looking statements and forward-looking information that are subject to significant risks and uncertainties including, without limitation, statements relating to known and unknown risks; uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expected future results; performance or achievements expressed or implied by forward-looking statements; our overall future business, financial condition, and results of operations, including, but not limited to financial position or cash flow; our goals for or estimates of future operational performance or results; and changes in the regulatory environment including, but not limited to, policies, decisions, and determinations of governmental or regulatory authorities. Although: (1) SM Prime Holdings, Inc. has extensive experience; and (2) the forward-looking statements may be reasonable, nothing herein should be relied upon as a commitment from SM Prime Holdings, Inc. as we cannot guarantee future events, performance or events due to various risks and uncertainties.