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SM Prime Holdings is investing 3.6 billion pesos to expand and modernize SMX Seaside Cebu, a prominent convention facility in the Visayas. The funding will upgrade exhibition halls, meeting spaces, and infrastructure to support larger events and international conventions. The expansion reinforces SM Prime's strategy to strengthen its presence in regional hubs and meet growing demand for premium event spaces. Past events have positioned Cebu as a key MICE destination, and this development aims to attract more business travelers while supporting local tourism growth.
SM Prime Holdings Inc has allocated 3.6 billion pesos for the development of SMX Seaside Cebu, a key convention and exhibition facility in the Visayas. The company confirmed that this investment will support the expansion and modernization of the venue, which has been a central hub for events, trade shows, and conventions in Cebu since its launch. Advertisement
The new funding is expected to enhance the venue's facilities, including additional exhibition halls, upgraded meeting spaces, and improved infrastructure to accommodate larger-scale events. This move aligns with SM Prime's ongoing strategy to strengthen its presence in the Visayas region and support the growing demand for premium event spaces outside Metro Manila.
SMX Seaside Cebu has hosted numerous national and international conventions in the past, contributing to Cebu's reputation as a leading MICE (Meetings, Incentives, Conferences, Exhibitions) destination. The company aims to leverage this investment to attract more business travelers, boost local tourism, and provide modern amenities for large-scale events.
Industry analysts note that investments like this reflect a broader trend among Philippine developers to diversify beyond retail and residential projects, focusing on convention centers, integrated resorts, and mixed-use developments to capture emerging opportunities in secondary cities.
Source Reuters
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