SM revives Harrison with P6-B bet

SM Prime Holdings Inc. is pouring more than P6 billion into the redevelopment of the former Harrison Plaza Complex in Manila, betting on the revival of one of the capital’s most historic retail landmarks as part of a wider mall expansion strategy.

The company said Wednesday that the planned SM Harrison Plaza, slated to open in 2027, will rise on the site of the country’s first one-stop shopping mall, which opened in 1976 and long served as a commercial anchor in Manila’s Malate district.

“The development will incorporate nature-inspired architectural elements alongside open layouts, community spaces and green areas designed to support cultural and social activities,” said Steven T. Tan, president of SM Supermalls.

The project will serve as a mixed-use retail and lifestyle hub targeting office workers, residents and students in Malate and Ermita, while strengthening SM Prime’s presence in Manila’s cultural and entertainment district.

The site is also expected to draw foreign and local tourists due to its proximity to key attractions such as Manila Zoo, Rizal Memorial Sports Complex, Cultural Center of the Philippines Complex and Manila Bay, as well as nearby hotels.

SM Prime said the mall will house a mix of global and local brands reflecting Malate’s character, and is expected to generate thousands of jobs during construction and operations while supporting broader urban renewal in Manila’s city center.

Once completed, the new SM Harrison Plaza will have an estimated gross floor area of more than 200,000 square meters, putting it on par with flagship developments such as SM City Davao and SM City Clark.

SM Prime’s investment to HarrisonPlaza is part of its P150-billion mall program from 2026 to 2030, which includes the redevelopment of 16 existing malls and the construction of 12 to 15 new lifestyle centers nationwide.