SM Prime says Cebu arena on track for June launch

SM PRIME HOLDINGS, Inc. said its 25,000-seat SM Seaside Cebu Arena remains on track for launch in June, as the property giant ramps up its push to expand its live events and entertainment business outside Metro Manila.

“The enduring success of SM Mall of Asia (MOA) Arena shows the strong demand for world-class entertainment venues, so we are bringing the same proven model to Cebu,” SM Prime President Jeffrey C. Lim said in a statement on Wednesday.

He said Cebu is a key growth center, adding that the arena is expected to help attract major events, support tourism, and generate economic activity in the region.

SM Prime said the project would be among the largest indoor arenas in the Philippines.

The seven-story arena will have a total capacity of 25,000, with an estimated 1.6-hectare building footprint and 7.4 hectares of gross floor area.

According to the company, the venue will feature a configurable event bowl designed for concerts and smaller-scale events, a centerhung system supporting 360-degree viewing, and premium suites intended for corporate hospitality and partnerships.

SM Prime said the arena is also designed to accommodate both front-of-house and back-of-house requirements for major productions. It will include a practice court for performers and multi-functional event spaces that can serve as holding areas, breakout rooms, or venues for private events.

The SM Seaside Cebu Arena is located within the 26-hectare South Coast City development, a joint venture between SM Prime and Ayala Land, Inc. at the South Road Properties in Cebu.

SM Prime reported a first-quarter net income of P11.66 billion, while total revenues rose 2% year on year to P33.3 billion from P32.8 billion, driven by higher rental income and other revenues.

Rental income reached P21.6 billion during the period, supported by improved mall and office occupancy, while other revenues climbed 11% to P3.9 billion due to higher ticket sales, stronger food and beverage revenues, and increased uptake of experiential offerings.

As of March 2026, SM Prime’s total assets stood at P1.1 trillion, while capital expenditures reached P15.5 billion. — Juliana Chloe A. Gonzales