16 stories in this topic
SM Prime Launches Ambitious Expansion Plan Amid Rising Consumer Trends In a bold move reflecting the growing consumer wealth in the Philippines, SM Prime Holdings is set to embark on its most extensive expansion and diversification initiative since opening…
SM Prime Holdings Inc (SMPH), one of the largest property developers in the Philippines, is set to open four shopping malls this year, adding 440,000sqm of retail space. The company plans to open SM City Caloocan, with 94,000sqm of gross floor area, in the…
SM Prime says it will open four new malls in Philippine provinces this year. The company will also intensify land-banking efforts to make it easier to develop properties in the future. The new SM Prime malls will be SM Mindpro Citimall in Zamboanga City, SM…
Rental revenues from mall expansions and consistent improvement in same-mall sales have helped boost income for integrated property company SM Prime Holdings. For its third quarter, the company had 16 per cent year-on-year net income growth to PHP5.6 billion…
Continuing mall expansion helped drive a 14 per cent rise in SM Prime Holdings’ net profit last year. In a stock exchange filing yesterday, the company said it achieved a net income of P23.8 billion (US$473.7 million) last year. Strong sales by its…
SM Prime boosted net profit by 15 per cent to PHP4.9 billion in third quarter of 2016. Overall revenue rose by 14 per cent to PHP18.5 billion. The SM Prime results show year-to-date net income rose 13 per cent year-on-year to PHP17.5 billion, on sales up by…
SM Prime CEO, Hans Sy, has announced a semi-retirement. Sy has also served as SM Prime’s president since 2004, while holding key positions in SM subsidiaries and affiliates. Teresita Sy-Coson, vice chairperson of SM Investments – parent company of SM Prime,…
SM Mall of Asia is set to revolutionize its look 10 years after it opened in Manila Bay. The Philippines’ biggest mall will soon house a FIFA World Cup-size soccer field on the mall’s roof deck and a botanical garden. Miami-based firm Arquitectonica will…
SM Prime is opening its 57th mall in the Philippines. SM City San Jose Del Monte will open today. It is the third in the province of Bulacan after SM City Baliwag and SM City Marilao. The new mall will add 101,000 sqm in gross floor area to the total…
Philippine property giants are entering record capital expenditure programs in 2016, on the back of strong economy, according to the global property advisor Savills. Three of the eight biggest property developers – Ayala Land, SM Prime Holdings and Robinsons…
The Philippines’ biggest retail property developer is not at all bothered by the emergent e-commerce, not even considering the latter as a latent competitor but more as a shot in the arm. “I am very bullish about that—I mean, SM’s commercial buildings and…
The mall business of SM Prime Holdings, Inc. (SM Prime), the country’s largest integrated property developer, reported its recent certification by the International Organization for Standardization. The ISO 22301 certification affirms the company’s commitment…
SM Prime Holdings Inc, the Philippines’ largest mall operator and one of Southeast Asia’s biggest integrated property developers, announced on Thursday another milestone—growth to 7.3 million square meters in local retail space portfolio—as it unveils its…
SM Prime Holdings, Inc., one of the leading integrated property companies in Southeast Asia, opens today its newest regional landmark, SM Seaside City Cebu. In a disclosure to Philippine Stock Exchange, SM Prime said this is its 56th mall in the country, and…
SM Center Sangandaan has opened its doors – owner SM Prime’s 55th mall in the Philippines. It is SM Prime’s first mall in the populous City of Caloocan, one of the 16 cities within Metro Manila. The new mall provides an additional 38,622 sqm in gross floor…
SM Prime Holdings has posted a 90 per cent increase in first half year sales to PHP18.7 billion (US$408 million). However the increase was largely due to one time gains on the sale of securities; recurring income grew by a more modest, but still healthy, 15…