Frost & Sullivan’s Vice President Sapan Agarwal (left) presents the Philippines Property Development Growth Excellence Leadership Award to SM Prime President Jeffrey Lim.

SM Prime Holdings Inc. was named the recipient of the 2018 Frost & Sullivan Philippines Property Development Growth Excellence Leadership Award at the recent 11th Annual Asia-Pacific Best Practices Awards at Shangri-La Hotel Singapore.

According to Janice Wung, energy and environment program manager at Frost & Sullivan, the property development market in the Philippines continues to develop steadily, driven by economic growth, rapid urbanization and government spending on infrastructure projects.

“Amid this backdrop, SM Prime Holdings Inc. cemented its position as the leading developer in the retail and commercial property market. The company continues to redefine the lifestyle mall concept, achieving higher-than-average revenue growth, successfully launching seven new shopping malls, and making headway in China’s real estate market in 2017,” she said.

Source: The Manila Times