Publicly listed SM Prime Holdings, Inc. (SM Prime) is now the largest in the Philippines and one of the leading property conglomerates in Southeast Asia. What started as a mall business back in 1985 has grown and evolved into a highly strategic and integrated property developer with interests in shopping malls, residential condominiums and commercial office buildings, in addition to resorts, leisure projects as well as hotels and convention facilities.
SM Prime is committed to the country in providing world-class and sustainable property development. The company is the largest mall developer, both in terms of gross floor area (GFA) and geographical reach.
It operates 74 malls in the country and 7 in China. While a large number of its malls are concentrated in Metro Manila, this area continues to present significant growth opportunities through the expansion of its existing malls, even as SM Prime penetrates new markets in provincial areas.
As of December 31, 2019
In China, SM Prime’s malls are seeing an increase in the number of tenants as it gains acceptance in the country. The company remains focused in satisfying the needs of its customers by managing its tenant mix.
Apart from malls, SM Prime has residential offerings nationwide through SM Development Corporation that are well-received by the market. Its residences are located in Makati, Mandaluyong, Manila, Paranaque, Pasay, Pasig, Quezon City, Taguig and one in Tagaytay. In terms of commercial developments, SM Prime has office buildings that primarily cater to the growing Business Process Outsourcing (BPO) industry. It continues to expand the E-com hub within the Mall of Asia complex and develop stand-alone as well as mall-based BPO buildings around the country. The company has hotels with over of 1,900 rooms as well as convention facilities that aim to take advantage of the growing tourism and entertainment sectors.
In 2013, SM Prime embarked on a landmark merger of SM's property assets. Post-merger, SM Prime is building on the success of its 60-hectare Mall of Asia Complex with the recent opening of SM Seaside City Cebu, the flagship development in the 30-hectare complex in Cebu. The company’s size, scope and dominance puts it at the forefront of large-scale integrated projects that complement the opportunities made available by a fast emerging economy. This is matched by the company's wealth of experience, skills, resources and sustainable programs which deliver superior shareholder value.