Construction of the mall started in 2011 and opened to the public on September 28, 2012, on the site of the former Lanang Golf and Country Club.

In 2008, SM Prime Holdings bought 10 hectares out of the 40-hectare property of Lanang Golf and Country Club from Dakudao and Sons for the mall.

Officers of SM Prime Holdings requested anonymity because they could not discuss project details.

Its operating hours are from 10:00 am until 9:00 pm [17] A sellout crowd filled the mall during its opening,[18][19] causing motorists and commuters trouble as they got stuck in heavy traffic along Jose P. Laurel Avenue.

[23][b] Additionally, S.P Dakudao loop bordered the mall and Jose P. Laurel Avenue to its north.

[23] Origami, the traditional Japanese art of paper folding, became the inspiration for the mall's exterior design.

[15] In March 2013, SM Lanang hosted the M.I.C.E convention along with the annual Philippine Advertising Congress, accommodating 5,000 people.

[30] IBEX Global Solutions opened a Business process outsourcing within the mall last October 2013 with a gross floor area of 3,500 m2 (38,000 sq ft) which employed additional 700 people.

MegaWorld Corporation is planning to open a residential building within the mall's vicinity, with an investment amounting to ₱15 billion.