SM Prime Holdings President Hans Sy had previously disclosed that the site of the old Coca-Cola Plant along C.M. Recto Avenue cor. Pres. Osmeña Sts. will be developed into another SM mall. The mall would be originally called it SM CDO2 Premier (as seen in the concept art of the mall) because it was the 2nd SM mall in the CDO area. But since the old Coke plant is located in downtown CDO, the company decided that the mall will be called: SM CDO Downtown Premier and be the second SM Mall in Cagayan de Oro. Construction of the mall started in March 2015. On March 15, 2017, tenant partners, retailers, food chains, service centers and merchants attended the tenant's preview of SM CDO Downtown Premier. On the same day, it was announced that the mall had an 85% occupancy rate. On May 11, the mall held a blessing, mass and ribbon cutting, headed by City Mayor
Oscar Moreno and some City officials; Hans T. Sy, Felicidad Sy and Jeffrey Lim, SM Executives; and Archbishop Antonio Ledesma, SJ. Shops were opened on that day for the invited guests. On May 12, SM CDO Downtown Premier opened its doors to the public opening only four levels of the mall with an 87% occupancy rate. On June 9, almost a month after the mall's opening, SM opened the fifth level of the mall, making all levels open to the public. The opening was attended by City Mayor
Oscar Moreno, together with some city officials, as well as some SM officials. The fifth level consists of shops, homegrown restaurants, along with the Sky Garden and Sky Hall. The Sky Hall is still closed to the public. The first bowling center in Northern Mindanao opened on the 4th level as well nearly two years later on May 4, 2019. On October 17, 2018, the BPO tower was finally opened for leasing. On April 2, 2023, the mall was renamed to simply as SM CDO Downtown as part of a rebranding by
SM Supermalls to unify with other premier malls that don't carry the "Premier" branding. ==Features==