SM Prime at 30: A legacy of innovation and shared prosperity
SM Prime Holdings, Inc. recently commemorated its 30th anniversary as a publicly listed company at the Philippine Stock Exchange, which marks three decades of service and transformative growth in the Philippine real estate industry.
From the initial offering of four malls, SM Prime has expanded not just in the Philippines but within Southeast Asia’s property sector. The company now has a multi-sector Philippine portfolio of 22 lifestyle cities that include 91 residential developments, 86 malls, 22 office towers, 10 hotels and 8 convention centers.
This robust growth trajectory has been fueled by the support of its investors and the flourishing capital market provided by the Philippine Stock Exchange. Incorporated in January 1994, SM Prime was able to raise approximately PHP 5.89 billion (US$221 million), and is now one of the most active stocks in the Philippine market, alongside its parent company SM Investments Corp. and subsidiaries BDO and Chinabank.
Celebrating Successes, Together
On its 30th anniversary year, SM Prime is opening three malls: SM City Caloocan, SM City J Mall in Cebu and SM City Laoag in Ilocos Norte. This year also marks the start of the redevelopment and expansion of SM Megamall and ongoing projects at SM Mall of Asia, SM City Cebu, SM City Iloilo, and SM City Bacolod. Additionally, SM Prime will enhance its Leisure Homes in Tagaytay and Batangas, establish new hotels with around 1,700 rooms, and continue developing mixed-use commercial buildings that combine office and retail spaces.
SM Prime continues to help Filipino communities thrive with MSMEs making up 63% of its commercial tenants, offering job and business opportunities through various support programs and job fairs, fostering economic growth for local enterprises and the LGUs.
Looking Forward to a Sustainable Future
SM Prime continues to integrate sustainable practices across its operations, from energy-efficient building designs to comprehensive waste management programs. SM Prime’s commitment to sustainability ensures that it maintains its positive impact on the environment and society, paving the way for a greener and more resilient future.
SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. For more information, visit www.smprime.com.
ADVT.
