LISTED real estate developer SM Prime Holdings, Inc. expects to complete the construction of the P1.7-billion SMX Center for International Trade and Exhibitions (SMXCITE) trade hall venue in Pasay City by the first quarter (Q1) of 2027 as it expands its convention portfolio.
SMXCITE will double the current footprint of SMX Convention Center Manila, adding more than 18,000 square meters (sq.m.) of leasable trade hall space, SM Prime said in a regulatory filing on Wednesday.
Located within the SM Mall of Asia complex, SMXCITE will feature two buildings constructed simultaneously — each capable of hosting over 18,000 guests.
Together with SMX Convention Center Manila, the development will offer over 35,000 sq.m. of combined space. It will cater to international trade shows, product launches, corporate gatherings, and large-scale consumer exhibitions.
SMXCITE will also include sustainability features, such as design elements that maximize natural daylight to reduce energy consumption.
“This expansion reflects our confidence in the Philippines’ growing stature in the meetings, incentives, conferences and exhibitions (MICE) space,” SM Hotels and Conventions Corp. Executive Vice-President Peggy E. Angeles said.
“With world-class infrastructure and a strategic location, we believe Manila can rival regional peers as a go-to venue for international trade events,” she added.
Once completed, SM Prime’s total convention portfolio will grow to nearly 60,000 sq.m. of gross leasable area across eight venues nationwide — including SMX Aura in Taguig, SMX Bacolod, SMX Davao, SMX Clark, SMX Olongapo, Sky Hall Seaside Cebu, and Megatrade Hall in SM Megamall.
SM Prime increased its first-quarter attributable net income by 11% to P11.7 billion. Revenue rose 7% to P32.8 billion, led by its malls and residential segments.
On Wednesday, SM Prime shares declined by 1.91%, or 45 centavos, to close at P23.05 apiece. — Revin Mikhael D. Ochave
