SM Prime Holdings Inc. is investing PHP1.7 billion (US$29.4 million) to develop a new large-scale convention venue, betting on Manila’s potential to emerge as a key Meetings, Incentives, Conferences, and Exhibitions (MICE) hub in Southeast Asia.
Dubbed the SMX Center for International Trade and Exhibitions (SMXCITE), the project will rise within the sprawling SM Mall of Asia complex in Pasay City.
The development will add over 18,000 square meters of leasable trade hall space and is slated for completion by the first quarter of 2027, according to a company statement on Wednesday.
“This expansion reflects our confidence in the Philippines’ growing stature in the MICE space,” said Peggy Angeles, Executive Vice President of SM Hotels and Conventions Corp.
SMXCITE will consist of two buildings constructed simultaneously, with a combined capacity of over 18,000 guests.
Once operational, it will double the current footprint of SMX Convention Center Manila and raise SM Prime’s total convention portfolio to nearly 60,000 sqm across eight sites nationwide.
The facility will incorporate sustainability features, such as maximizing natural daylight to reduce energy use, in line with SM Prime’s green building practices.
The move aligns with SM Prime’s broader strategy to enhance the MOA complex as a premier venue for international trade shows and business events, competing with regional peers like Bangkok and Singapore.
Business News Asia