SM Prime Holdings Inc (SMPH.PS), the Philippines’ largest mall operator, said on Monday it will open SM City Carmona in 2029, anchoring a 200-hectare master-planned township in Cavite province south of Manila.
The project, called SM Carmona City (SMCC), is being positioned as a new urban center integrating retail, offices, residential communities and transport infrastructure, the company said in a statement.
SM Prime said the development will also house a new Carmona City Hall, a Cavite State University campus and the South Luzon Integrated Terminal Exchange, a major transport hub designed to improve connectivity in the region.
The company expects SM City Carmona to generate jobs, strengthen Cavite’s role as an investment destination and spur long-term economic growth in the province, one of the fastest-growing urban areas on the edge of Metro Manila.
SM Prime, the property arm of the Sy family’s SM Investments Corp (SM.PS), operates 85 malls in the Philippines and 8 in China as of June 2025. It has increasingly pursued large-scale mixed-use “lifestyle cities” outside Metro Manila, with Cavite seen as a strategic expansion area due to rapid population and infrastructure growth.
SMCC will be the group’s second major estate development in Cavite, following SM City General Trias.
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