SM Prime Holdings, Inc. (SM Prime) is targeting the first quarter of 2026 to complete the P2.3-billion redevelopment of SM City Iloilo to expand leasable space, introduce new lifestyle concepts, and upgrade facilities to support rising consumer demand in Western Visayas.

The company said Tuesday that the redevelopment adds more than 7,900 square meters of gross leasable area (GLA) for the mall. Likewise, it will also add 23,670 square meters for National University (NU).

The NU campus, set to open within the complex by 2027, is expected to increase foot traffic and reinforce the mall’s multi-generational appeal.

“SM City Iloilo has been central to our growth and to the Ilonggo community. This investment will help drive domestic tourism, strengthen MSMEs, and unlock the city’s full potential,” SM Prime president Jeffrey C. Lim said.

Once completed, SM City Iloilo will feature expanded retail and dining options, welcoming new brands and destinations aimed at cementing its role as Western Visayas’ premier lifestyle mall.

Opened in 1999, SM City Iloilo was the eighth SM Supermall built by SM Prime, later expanding its gross leasable area from 71,979 square meters to 106,307 square meters through upgrades made between 2009 and 2016.

Now, under its “All For You” strategy, the company is adding new athleisure, entertainment, and amusement zones to support a growing tenant mix and customer demand.

Many of the incoming concepts—such as Game Park, Fantasy World, Decathlon, TGI Friday’s, and Chili’s—are firsts in Iloilo and are expected to further reinforce the mall’s role as the region’s top retail and lifestyle destination.