SM Prime stock eyes Palawan tourism project as city plans expand
Published on 11/01/2026 at 01:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSPalawan Plans Broaden SM Prime's Pipeline
- SM Prime is linked to a potential tourism development in Puerto Princesa after acquiring beachfront properties.
- The proposed Santa Lucia master plan includes hospitality, commercial, environmental and infrastructure projects.
- The project could extend SM Prime's property and tourism exposure beyond its existing mall operation in Palawan.
SM Prime Holdings is being linked to a potential tourism development in Puerto Princesa, Palawan, after the company acquired beachfront properties along the city's western coast. BusinessMirror reported the development on Tuesday, October 27, citing Puerto Princesa Mayor Lucilo Bayron.
Bayron said the SM Group had bought most of the beachfront properties from Barangay Napsan to Simpocan. SM Prime currently operates SM Puerto Princesa, a 53,000-square-meter mall designed with energy-saving features for the tropical climate.
City Plan Creates Tourism Upside
The proposed investment would connect with Puerto Princesa's broader Santa Lucia Environmental Estate plan. The city is developing a P200 billion master plan covering about 500 hectares carved from the former Iwahig Penal Colony property.
The plan includes nine districts for hospitality, tourism residences, commercial activity, agriculture, environmental protection and supporting infrastructure. It also proposes a convention center, 10 hotel sites across 7.14 hectares and facilities such as forest trails, mangroves, boardwalks and observation towers.
Bayron compared the potential concept with Bali, but the report did not say whether SM Prime will invest in Santa Lucia itself. That distinction matters for investors because the beachfront acquisitions and the wider city plan are separate from a confirmed project commitment.
SM Prime's stock was not given a current market quote in this report. For company-specific coverage, see the SM Prime stock topic page.
Business Model And Competition
SM Prime Holdings operates and leases shopping malls in the Philippines and China, alongside residential projects, commercial and integrated property developments, hotels and convention centers. Its activities also include cinemas, amusement centers, condominium development, office properties, leisure assets and resorts.
The company is based in Pasay City, the Philippines, and operates as a subsidiary of SM Investments Corporation. In Puerto Princesa tourism, the BusinessMirror report identifies the Ayala Group's resort activity in El Nido as a nearby competitive reference, while SM Prime brings a broader combination of retail, residential, hospitality and integrated property capabilities.
For broader market context, see Current market reports.
SM Prime Holdings At A Glance
- Company: SM Prime Holdings, Inc.
- ISIN: PHY8076N1120
- Sector: Real Estate
- Industry: Real Estate - Development
- Base: Pasay City, Philippines
- Business: Malls, residential property, integrated developments, hotels and convention centers
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