SM Supermalls sees 8% revenue growth in H1 2026

Higher leasable space and tenant growth lift SM Supermalls’ revenue as it expands retail, leisure and entertainment offerings across the Philippines.

SM Supermalls grew its first-half revenue by 8% to ₱41.8 billion, as higher leasable space and tenant sign-ups helped drive growth while average daily foot traffic held steady at 3.7 million.

The performance comes as malls take on a bigger role in retail, dining, leisure, entertainment and community activities, giving businesses more ways to reach consumers beyond traditional shopping.

SM’s gross leasable area grew 3% to 5.1 million square meters, while its tenant count rose 4% to 23,174. The increase means more brands and businesses operating across SM’s network, while the additional space gives the mall operator room to bring in more tenants and offerings.

SM is also expanding its leisure and entertainment options. It added 41 pickleball courts in the first half, bringing its total to 102 across 32 malls. It also co-hosted the Galaxy Manila Marathon in June, which drew more than 25,000 runners across different categories.

Infrastructure is another area of investment. SM’s rooftop solar capacity has increased to 122 MWp from 100 MWp, while all 90 Philippine malls now have free EV charging, with 203 stations nationwide.

SM was also named the Philippines’ Strongest Brand for the second straight year by Brand Finance, scoring 95.3 out of 100 on its Brand Strength Index and retaining its AAA+ rating.

The expansion will continue later this year. SM Nuvali in Sta. Rosa, Laguna, is set to open on Nov. 27, becoming SM’s 91st mall in the Philippines. The new mall will expand the company’s presence in South Luzon and CALABARZON.

The expansion gives retailers more space to reach consumers, while shoppers get more choices across retail, dining, leisure and entertainment. It also shows how SM is competing for a larger share of consumers’ time and spending as mall habits continue to evolve.

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