SM Prime Holdings Inc. is investing P7 billion to redevelop SM Megamall, with phased completion targeted between 2027 and 2029 to enhance the customer experience while embedding sustainability features across the property.
The Sy family-led property developer said on Tuesday that United Kingdom-based architectural firm Benoy—known for Jewel Changi in Singapore and Icon Siam in Thailand—will design the redevelopment.
The facelift will add 20,000 square meters of gross leasable area, nature-inspired architecture, improved mobility features, and energy-efficient systems.
The mall will also have themed retail zones, intuitive wayfinding, and upgraded circulation through wider corridors and modernized vertical transport.
“Operational upgrades include a new four-level basement parking facility with over 1,600 slots, expanded walkways and ceilings, and improved circulation through wider corridors and modernized vertical transport,” SM Prime said.
“The redevelopment also includes relocated state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court and upgraded common areas and restrooms,” it added.
Sustainability features include a rainwater harvesting system with a 500-cubic-meter capacity, ETFE roofing to allow natural light and reduce cooling costs, and skylights to minimize artificial lighting.
Energy-efficient LED lighting and sensor-activated escalators are expected to deliver up to 50 percent and 30 percent energy savings, respectively.
Solar panel installations are also being evaluated as part of SM Prime’s carbon reduction efforts.