SM Prime investing P6 billion for Harrison Plaza project

MANILA, Philippines — SM Prime Holdings Inc., the integrated property developer of the Sy family’s SM Group, is pouring in over P6 billion to redevelop the former Harrison Plaza Complex in Manila.

The project is part of SM Prime’s P150-billion mall investment program for 2026 to 2030, which includes the major redevelopment of 16 existing malls and the construction of 12 to 15 new lifestyle malls.

SM Harrison Plaza, which is targeted to open in 2027, will have an estimated gross floor area of more than 200,000 square meters, comparable to flagship developments such as SM City Davao and SM City Clark.

“The development 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 Tan said.

Harrison Plaza opened in 1976 as the country’s first one-stop shopping mall. It ended operations in 2019.

SM Prime’s development is expected to function as a mixed-use retail and lifestyle hub, extending the company’s reach to office workers, residents and students across Malate and Ermita.

Tan said SM Harrison Plaza would complement SM Prime’s existing mall portfolio by deepening its footprint in Manila’s cultural and entertainment district.

With a balanced tenant mix of global brands and local retailers, it is seen as a draw for both foreign and local tourists given its proximity to several hotels and nearby attractions such as Manila Zoo, Rizal Memorial Sports Complex, the Cultural Center of the Philippines Complex and Manila Bay.