Tag Archives: SM Prime

SM Prime opens shopping mall in Legazpi City

(Source: Business World | September 12, 2018) SM City Legazpi will open its doors on Sept. 14. Located along Imeda Roces Avenue in Albay, the mall will have a total gross floor area of almost 88,000 square meters (sq.m.) and will be the company’s second mall in Bicol following SM City Naga in Camarines Sur. “SM Prime joins the City ...

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New mall openings drive SM Prime’s income growth to P16.62B in H1

(Source: Business Mirror | August 6, 2018) Shopping mall operator SM Prime Holdings Inc. on Monday said its net income grew 16 percent during the first half of the year ending June, mainly as a result of new mall openings during the past few months. The company said first-half earnings grew to P16.62 billion, from P14.39 billion last year. Consolidated ...

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SM gets income boost from property, retail units

(Source: Rappler | May 9, 2018) Listed SM Investments Corporation saw its consolidated net income rise by 10% to P8.5 billion in the 1st 3 months of 2018, from the P7.7 billion in the same quarter a year ago, thanks to strong performance of its property and retail businesses. SM told the Philippine Stock Exchange (PSE) on Wednesday, May 9, ...

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SM Prime opens 6th Cavite mall

(Source: Business Mirror | February 15, 2018) The shopping mall empire of country’s richest man Henry Sy, Sr. continues its provincial expansion with the opening of SM Center Imus in Cavite. In a statement issued Wednesday, SM Prime Holdings, Inc. (SM Prime) said it will be opening the mall on Friday (Feb. 16) with 90% of its leasing space already ...

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PHL F&B, retail sectors more profitable than telco, property

(Source: Business Mirror | January 15, 2018) A comparative outlook at profitability indicators since 1997 shows that retail, and food-and-beverage companies have averaged higher rates of return than some of the top telecommunications and real-estate companies in the Philippines. These points to the capital-intensive nature of telco and real-estate industries, which contribute significantly to national infrastructure and development. An academic ...

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SM opening mall in Puerto Princesa

(Source: Inquirer.net | September 13, 2017) Property giant SM Prime Holdings Inc. has gained a foothold in Palawan with the opening of a new shopping complex in the coastal city of Puerto Princesa, marking the 64th in its chain of shopping malls. SM City Puerto Princesa – SM Prime’s first premier mall in the country’s largest province which is a ...

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SM Prime Southeast Asian expansion plans afoot

(Source: Inside Retail Asia | 24 April 2017) SM Prime Southeast Asian expansion plans are imminent, judging by a chance interview with the company’s chairman. The Philippine property company already operates 60 malls in its home market and a growing portfolio in China, currently standing at seven. A foray into Southeast Asia has long been whispered and shareholder expectation rose ...

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SM opening 4 malls in 2017

(Source: Inquirer.net | 16 January 2017) Property giant SM Prime Holdings Inc. is set to open four new Philippine shopping malls with a combined gross floor area of 292,000 square meters (sq m) this year, cementing its market leadership in the retail property space. SM Prime—now the most valuable company in the local stock market and a leading property developer ...

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SM Prime sets P60-70B capex for 2017

(Source: The Manila Times | 28 September 2016) SM Prime Holdings Inc., the listed property developer of the Sy family, is setting aside P60 billion to P70 billion for next year’s capital spending to fund its mall, offices and hotels development. Jeffrey Lim, executive vice president and incoming president of SM Prime, told reporters that the company is allotting a ...

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SM Prime CEO in hiatus

(Source: Inside Retail Philippines | 4 July 2016) SM Prime CEO, Hans Sy, has announced a semi-retirement. Sy has also served as SM Prime’s president since 2004, while holding key positions in SM subsidiaries and affiliates. Teresita Sy-Coson, vice chairperson of SM Investments – parent company of SM Prime, said Sy “wants to have more free time for himself and ...

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