MANILA — SM Prime Holdings Inc. is set to invest more than P6 billion to transform the former Harrison Plaza Complex in Manila into a mixed-use retail and lifestyle hub, with its flagship mall slated to open in 2027.

The redeveloped mall is expected to cover a gross floor area of over 200,000 square meters, comparable to SM Prime’s major projects such as SM City Davao and SM City Clark. Its tenant mix will feature global brands and local retailers, and the project is projected to create thousands of jobs during construction and ongoing operations.

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

Harrison Plaza, which opened in 1976 as the country’s first one-stop shopping mall, ceased operations on December 31, 2019.

The redevelopment forms part of SM Supermalls’ P100-billion spending program for 2026, aimed at sustaining growth across its retail and commercial segments. Despite a 7% drop in consolidated revenues to P37.7 billion in Q4 2025, the company maintained a net income of P11.6 billion, bringing its full-year 2025 net income to P48.8 billion as total revenues grew to P141 billion.

SM Prime plans to open one flagship mall every year through 2030, alongside redevelopment projects across its 89 malls, with three to four openings planned this year in General Trias, Cavite; Sta. Rosa, Laguna; Davao del Norte; and Zamboanga City.

Read more: GMA News