Tag Archives: SM Prime Holdings

IKEA to build its biggest store in Manila

(Source: Manila Bulletin | November 20, 2018) Swedish home furnishing retailer IKEA has announced that it will be opening the largest IKEA store in the Philippines by end of 2020 at the Mall of Asia complex in Manila. IKEA’s managing director for Southeast Asia Christian Rojkjaer, said they have entered into a long-term lease with the SM Prime Holdings Inc. ...

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DFA inks deal with mall giants for 4 new consular offices

(Source: PTV News | June 2, 2018) The Department of Foreign Affairs (DFA) has entered into partnership agreements with SM Prime Holdings and the Gaisano Group for a rent-free hosting of four more consular offices. In a statement, Foreign Affairs Secretary Alan Peter Cayetano thanked the two for expanding their partnership with the agency. “We expect to serve the public ...

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The country’s largest mall chain celebrates its diamond anniversary this year

(Source: Philippine Tatler | May 22, 2018) In a night of festive celebration, SM, the Philippines’ largest retail chain, commemorated 60 years of existence with a vibrant fashion show and a striking performance. SM also announced a host of special surprises for shoppers from May to October in their malls nationwide. Last night’s party kicked off the six-month long anniversary ...

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SM opens 70th mall

(Source: Inquirer |May 19, 2018) Property giant SM Prime Holdings has hit the 70th shopping mall milestone in its Philippine retail empire expansion, cementing its market-leading position with the opening of a new shopping hub in Pampanga. SM City Telabastagan, which opened last Friday, is the fourth SM mall in this province. The new mall adds 55,000 square meters of ...

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SM Prime Q1 net income rose 15% to P7.6 billion

(Source: Business Mirror | May 7, 2018) Shopping mall operator SM Prime Holdings Inc. said it posted a 15-percent increase in its net income in the first quarter to P7.6 billion from last year’s P6.6 billion, driven by the expansion of its mall and residential businesses in key cities all over the country. Consolidated revenues grew 14 percent to P23.4 ...

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SM Prime opens second Pangasinan mall

(Source: Manila Standard | May 3, 2018) SM Prime Holdings Inc., the country’s leading shopping mall and residential developer, opened its second mall in Pangasinan province Friday (May 4). SM Prime said in a disclosure to the stock exchange SM City Urdaneta Central, the group’s 69th mall in the Philippines, would open with 42,000 square meters of gross floor area. ...

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SM Prime recurring net income grew 16% in 2017

(Source: Business Mirror | February 19, 2018) SM Prime Holdings Inc. (SMPH) said it had a recurring net income growth of 16 percent in 2017 to P27.6 billion, from P23.8 billion of prior year on the back of the expansion of its main shopping mall business. Consolidated revenues grew 14 percent to P90.9 billion in 2017, from P79.8 billion in ...

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SM Prime goes for 67th mall in retail domination

(Spurce: Inquirer.net | December 16, 2017) Property giant SM Prime Holdings opened yesterday a new shopping center in Lemery, Batangas, marking the 67th retail hub in its nationwide shopping mall empire. SM Center Lemery would be adding 25,000 square meters (sq m) to SM Prime’s total gross floor area in the Philippines. “Lemery has been a gateway to different attractions ...

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SM Prime Holdings: Largest Mall Operator In The Philippines

(Source: Seeking Alpha | November 21, 2017) SM Prime Holdings continues to be the largest mall operator in the Philippines that has a stable mall portfolio with average 94% occupancy rate and 7% same-store rental growth. For the past five years, its overall revenue grew 8.5% annually while net income grew 12.5% annually. The company earns 10.5% ROE, in line with ...

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SM Prime sees no mall saturation as 65th opens

(Source: inquirer.net | October 11, 2017) Property giant SM Prime Holdings Inc. is opening a new shopping mall in Cagayan’s capital city of Tuguegarao, further expanding its nationwide footprint as this marks its 65th domestic retail hub. SM Center Tuguegarao Downtown, the first SM mall in Cagayan Valley, is set to open on Thursday, Oct. 12, adding 37,000 square meters ...

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