Pasay City, Philippines. September 19, 2013. The SM Group has been named “Best Residential Developer in The Philippines” by pre-eminent international finance magazine Euromoney, in the 9th annual global Euromoney Real Estate Survey. The award highlights the work that residential arm SM Development Corporation (SMDC) has been doing in the last six years to effectively reach out to the retail market by addressing the need for affordability while still catering to lifestyle aspirations through innovative and efficient approaches.
SM takes its roots from retail as founder Mr. Henry Sy, Sr. opened a shoe store in 1958. Retailing provided a venue for the group to develop innate skills and core values that have helped SM grow and expand into related businesses which thrive on their distinct ability to keep pace with the dynamic markets that they serve. As such, SM is now among the largest consumer-based conglomerates in the Philippines with diverse interests in retail, banking and property.
In recognizing SM for the award, Euromoney Editor Clive Horwood highlighted how “the winners of this year’s Euromoney survey are those that exhibited the ability to innovate and make best use of the inherent strengths of their organization. Key players in real estate banking, development, investment management and advisory services have recognized SM Group as a market leader.”
Mr. Henry Sy, Jr., Vice Chairman of SM Investments Corp. and Vice Chairman and CEO of SMDC said, “I would like to thank Euromoney for this very prestigious award. It affirms the long-term vision of SM in the property business where our dedication lies in knowing what our markets want and need so that we can address them accordingly. Innovation is one of our group’s core values. It keeps our work exciting, trying new things while keeping our feet firmly on the ground. We mix it with a strong pioneering spirit, the innate desire to serve, and with stewardship which altogether creates value for our customers and all of our partners in business.”
Regarded as the benchmark awards for the global real estate industry, the Euromoney Real Estate Survey is now in its 9th year. This year’s awards process, which began in March, canvassed the opinions of senior real estate bankers, developers, investment managers, corporate end-users and advisory firms in over 70 countries. With over 2,000 responses, it is the biggest ever Euromoney Real Estate Poll.
Euromoney Magazine is the flagship title of London based financial communications company Euromoney Institutional Investor PLC. Founded in 1969 by Sir Patrick Sergeant, Euromoney Magazine is the voice of the international capital markets and for over 40 years has offered unparalleled coverage of the global bond, equity and foreign exchange markets Euromoney Institutional Investor PLC is a constituent of the FTSE-250 index and is listed on the London and Luxembourg Stock Exchanges.
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For further information, please contact:
Corazon P. Guidote
Senior Vice President – Investor Relations
Tel. No.: +632 857-0117
Date: Thursday, September 19, 2013
Source: SMIC Investor Relations