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MALL OF ASIA EXPANSION UPDATE

This is the latest progress on the mall of asia expansion project in 2023.

The SM Prime's 60-hectare SM Mall of Asia is expanding into one of the world’s largest mall on the occasion of its 15th anniversary.

MOA will add about 250,000 square meters to its floor area, spanning a total of over 650,000 square meters, which will count as one of the largest in the world, a fitting milestone to a mall that has touched the lives of millions in the last 10 years.

As part of its expansion, the company is embarking on a major redevelopment of the mall where a new FIFA World cup size football stadium will be built on top of the mall.

This project has prompted the company to do the redevelopment of the mall in phases. The Olympic-size skating rink which will be on the third floor is targeted to be ready by the end of the year. A food hall, dolled up with designer furniture in tune with the mall’s modern look, will also open on the third level.

SM Prime Holdings has earmarked as much as P1.5 billion to redevelop Mall of Asia, which will expand its selling area by about a third and become the country’s first shopping mall with a football field on its roofdeck.

The upgrading of Mall of Asia is part of SM Prime’s medium-term expansion program.

Capital spending for the expansion of Mall of Asia amounting to P1.2 to P1.5 billion will be spread out over the next two years, Lim said. The expansion is not expected to affect the mall’s current operations.

Mall of Asia is already a mature mall so when redeveloped it will be able to get the (mature) rental rate.

Once this large shopping mall fronting Manila Bay is expanded, it will have about 530,000 square meters of retail area, surpassing Megamall’s 490,000 sqms. Mall of Asia is thus expected to be SM Prime’s largest shopping mall and the largest in the country in two years’ time.

SM Prime plans to construct a massive football field on the fourth level and a new skygarden with a view of the manila bay.

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