SM hospitality arm earmarks P5.3 billion for 5-year MICE expansion
In a statement, SM Prime said SMHCC has set aside a P5.3-billion investment to ramp up its MICE portfolio over the next five years.
The Sy family's property developer said its hospitality arm's expansion will begin with two major developments in Cebu and Pasay.
SM Prime said the SMX Convention Center Seaside Cebu is set to open in the third quarter of 2026.
SMX Cebu is poised to be one of the largest and most modern convention venues in the Visayas.
The convention center in the "Queen City of the South" will have 21,000 square meters of leasable space across six levels, directly integrated with the SM Seaside Arena and SM Seaside Cebu Mall.
SMHCC also broke ground on SMXCITE at the Mall of Asia Complex in Pasay City last April.
SMXCITE, set to open in the first quarter of 2027, is seen to add 18,000 square meters of leasable space to the existing 17,000 square meters at SMX Manila, enabling SMHCC to accommodate large-scale, concurrent events.
"Our expansion into Cebu and Pasay reflects our strong belief in the potential of these cities. By building next-generation venues with scale and flexibility, we are enabling more communities to benefit from the business and tourism opportunities that MICE events bring," said SMHCC executive vice president Peggy Angeles.
These projects are part of SMHCC's broader strategy to grow its events portfolio outside Metro Manila and support economic activity in emerging urban centers, according to SM Prime.
The Sy-led property developer said each SMX venue is co-located with hotels, malls and transport infrastructure to provide seamless access for organizers and guests. — VDV, GMA Integrated News
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