SM Marks 30 Years of Real Estate Innovation and Growth
PASAY CITY, Philippines, July 24, 2024 /PRNewswire/ -- SM Prime Holdings, Inc., the property arm of the SM Group, commemorated its 30th anniversary as a publicly-listed company at the Philippine Stock Exchange, marking three decades of transformative growth in the Philippine real estate industry. Established in 1994 by the visionary entrepreneur Henry Sy, Sr., SM Prime began with an initial offering of four malls and has since evolved into one of Southeast Asia's leading integrated property developers, managing a diverse portfolio that includes 91 residential developments, 86 malls, 22 office towers, 10 hotels, and 8 convention centers across 22 dynamic lifestyle cities.
Jeffrey C. Lim, President of SM Prime Holdings, expressed gratitude for achieving this significant milestone: "We are beyond grateful to reach this remarkable 30th listing anniversary as a public company. Guided by the vision of our founder, Mr. Henry Sy, SM Prime was established to create world-class destinations for shopping, dining, amusement, and entertainment in the Philippines. Over the years, we have continually pushed boundaries as an integrated property developer."
On its 30th anniversary, SM Prime is set to open three new malls: SM City Caloocan, SM City J Mall in Cebu, and SM City Laoag in Ilocos Norte. Additionally, the company initiated the redevelopment and expansion of iconic landmarks such as SM Megamall, alongside ongoing enhancements at SM Mall of Asia, SM City Cebu, SM City Iloilo, and SM City Bacolod. SM Prime will also focus on enhancing its Leisure Homes in Tagaytay and Batangas, introducing new hotels with approximately 17,000 rooms, and developing mixed-use commercial buildings that integrate office and retail spaces.
With Micro, Small, and Medium Enterprises (MSMEs) comprising 63% of its commercial tenants, SM Prime remains dedicated to empowering local communities. The company plays a pivotal role in driving economic growth through various support programs and initiatives, including job fairs and collaborations with local government units (LGUs).
Looking forward, SM Prime reaffirms its commitment to set benchmarks in integrated property development across major Philippine cities, emphasizing innovative and sustainable practices aimed at enhancing the quality of life for millions of Filipinos.
For more information about SM Prime Holdings, Inc. and its transformative projects, please visit www.smprime.com.
SOURCE SM Investments Corporation
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