SM Prime Holdings, Inc. said it would invest greater than P6 billion to redevelop the previous Harrison Plaza site in Manila, with completion of the brand new mall targeted for 2027.
The project is a component of the corporate’s P150-billion mall investment program for 2026 to 2030, which incorporates the redevelopment of 16 existing malls and the development of 12 to fifteen latest lifestyle centers.
Harrison Plaza, which opened in 1976, is widely thought to be the country’s first one-stop shopping center.
“The event will incorporate nature-inspired architectural elements alongside open layouts, community spaces and green areas designed to support cultural and social activities,” SM Supermalls President Steven T. Tan said in an announcement on Wednesday.
Mr. Tan said the project is anticipated to expand SM Prime’s presence in Manila, particularly in town’s cultural and entertainment district.
Upon completion, SM Harrison Plaza is projected to have a gross floor area of greater than 200,000 square meters, placing it in the identical size range as SM City Davao and SM City Clark.
The mall is anticipated to operate as a mixed-use retail and lifestyle center, targeting office staff, residents, and students in Malate and Ermita.
It may additionally attract local and foreign visitors because of its proximity to hotels and nearby attractions, including Manila Zoo, Rizal Memorial Sports Complex, the Cultural Center of the Philippines Complex, and Manila Bay.
Mr. Tan said the project could generate jobs during construction and operations and will contribute to ongoing redevelopment in Manila’s city center. — Alexandria Grace C. Magno