SM Prime Holdings, Inc. celebrated on July 23 its 30th anniversary as a publicly listed company at the Philippine Stock Exchange underscoring three decades of transformative growth in the Philippine real estate sector.
Established in 1994 by visionary Henry Sy, SM Prime has steadfastly pursued its mission to develop world-class shopping, dining, entertainment, residential, and amusement destinations across the Philippines and beyond.
Beginning with just four malls, SM Prime has grown into a powerhouse in Southeast Asia’s property sector.
Today, its diversified portfolio in the Philippines includes 22 lifestyle cities encompassing 91 residential developments, 86 malls, 22 office towers, 10 hotels, and 8 convention centers.
This expansion has been bolstered by strong investor support and the thriving capital market provided by the Philippine Stock Exchange.
Since its incorporation in January 1994, SM Prime has remained committed to shared prosperity, raising approximately PHP 5.89 billion ($221 million) during its IPO.
It is now one of the most actively traded stocks in the Philippine market, alongside parent company SM Investments Corp. and subsidiaries BDO and Chinabank.
Over the years, SM Prime has navigated significant challenges, including the 1997 Asian financial crisis, the 2008 global financial crisis, and the recent COVID-19 pandemic.
Despite these hurdles, the company has demonstrated resilience and continued to drive growth.
In its 30th anniversary year, SM Prime is set to open three new malls: SM City Caloocan, SM City J Mall in Cebu, and SM City Laoag in Ilocos Norte.
This year also marks the start of redevelopment and expansion projects at SM Megamall and ongoing projects at SM Mall of Asia, SM City Cebu, SM City Iloilo, and SM City Bacolod.
Furthermore, SM Prime plans to enhance its Leisure Homes in Tagaytay and Batangas, establish new hotels with around 17,000 rooms, and continue developing mixed-use commercial buildings that combine office and retail spaces.
As a leading property developer in major Philippine cities, SM Prime significantly contributes to local communities.
With MSMEs making up 63% of its commercial tenants, SM Prime’s developments provide substantial job and business opportunities through various support programs and job fairs, fostering economic growth for local enterprises and LGUs.
SM Prime remains dedicated to integrating sustainable practices across its operations, from energy-efficient building designs to comprehensive waste management programs.
This commitment ensures a positive impact on the environment and society, paving the way for a greener and more resilient future.
As SM Prime celebrates this significant milestone, it extends gratitude to its shareholders, customers, business partners, and employees, whose support has been crucial to its achievements.
Looking forward, SM Prime aims to continue its legacy of delivering exceptional value, enriching communities, and contributing to socio-economic development, striving for a more sustainable and prosperous Philippines.
SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, and enhancing the quality of life for millions.
Business News Asia