SM Prime

Last updated

SM Prime Holdings, Inc.
Company type Public
PSE:  SMPH
Industry Property, shopping malls and retailing
Founded1958;66 years ago (1958) in
Manila, Philippines
Founder Henry Sy Sr.
Headquarters Pasay, Philippines
Number of locations
85 malls
2,303 stores nationwide
48 SM Supermarkets, 44 SM Hypermarkets, 156 Savemore stores, 39 Walter Mart stores, 210 Alfamart stores, and 1,749 specialty stores
Area served
Philippines
China
Guam
Key people
Henry Sy Jr. (Chairman)
Amando Tetangco Jr. (Vice Chairman)
Jeffrey C. Lim (President)
RevenueIncrease2.svg 105.8 billion (2022)
Increase2.svg₱49.2 billion (2022)
Increase2.svg₱30.1 billion (2022)
Parent SM Investments (49.70) [1]
Website www.smprime.com
Footnotes /references
[2] [3] [4]

SM Prime Holdings, Inc. (SMPH) is a Filipino integrated property developer and a public subsidiary of SM Investments Corporation. It was incorporated on January 6, 1994, to develop, conduct, operate, and maintain the SM commercial shopping centers and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centers. It went public on July 5, 1994, and subsequently grew to become the largest company listed on the Philippine Stock Exchange in terms of revenue. The company's main sources of revenues primarily include rental income from mall and food courts, as well as from cinema ticket sales and amusement income.

Contents

History

The roots of SM date back to the 1950s when entrepreneur Henry Sy, Sr. established a shoe store at Carriedo Street in Quiapo, Manila. His store was established as ShoeMart, which was originally located at Carlos Palanca Sr. Street. His aggressive and adamant strategy helped him gain large profits within a few years and he later expanded his business to become a fully functioning department store named ShoeMart, which specializes in the sale of shoes, the sector of which the store originally was. ShoeMart was abbreviated into SM, the name which became commonly known by the locals. The abbreviation SM has become an orphan initialism. The first ShoeMart outlet was abandoned and the department store moved to a new site along the nearby Carriedo Street. The old site was demolished in 1982 and was turned into its Clearance Outlet.

The first SM Mall, the SM North EDSA, was opened in 1985. Followed by the establishment of a second mall, the SM Centerpoint, in 1990. Since then, the company has expanded by establishing malls nationwide.

SM Prime logo (2010-2022) SM Prime Holdings logo.svg
SM Prime logo (2010–2022)

On May 17, 2013, SM opened the SM Aura Premier. The same year, the company announced a merger with SM Land, which owns SM Development and Commercial Properties Group. As a result, upon approval by Securities and Exchange Commission, SM Prime is one of the largest property companies in the Southeast Asia region, competing with Gokongwei-led Robinsons Land (which owns Robinsons Malls and Tan-led Megaworld Corporation). [5]

Subsidiaries

SM Supermalls

SM Supermalls is a chain of shopping malls with over 88 malls in the Philippines, and 8 in China as of August 2024. According to the company, the malls attract an average foot traffic of 3.5 million daily and has over 5,000 tenant partners. [6]

SM Offices

SM Offices is SM Prime's commercial development arm responsible for the development various commercial properties and office tower developments across the country. Their key office properties include the E-Com Center towers at the SM Mall of Asia Complex, the Mega Tower located beside SM Megamall, the North Towers at the SM North EDSA Complex, the SM Fairview Towers at the SM City Fairview Complex, and the SM Aura Tower at the SM Aura complex. [7]

SM Development Corporation (SMDC)

SM Development Corporation (SMDC) is a wholly-owned subsidiary and the real estate arm of SMPH. Its properties are strategically situated in key areas across Metro Manila specifically the Central Business Districts of Mall of Asia Complex, Makati, Ortigas, Taguig, Quezon City, Manila, Pasay, Parañaque and Las Piñas, as well as nearby provinces like Cavite, Bulacan, Pampanga and in Visayan locations Iloilo and Bacolod. [8]

Back in 2020, SMDC bagged the most-coveted Best Developer of the Year award in the annual PropertyGuru Asia Property Awards [9] alongside other recognitions:

SM Development Corporation 8th PropertyGuru Asia Property Awards Recognitions [10]
Best DeveloperWinnerSMDC
Best Lifestyle DeveloperWinner
Special Recognition in CSRWinner
Best Condo Development (Luzon)WinnerPark Residences
Best Mid-End Condo Development (Metro Manila)WinnerCharm Residences
Best Condo Architectural DesignWinnerSail Residences
Best Landscape Architectural DesignWinner
Best Lifestyle DevelopmentWinnerFern at Grass Residences
Best Affordable Condo Development (Metro Manila)Highly CommendedBloom Residences
Highly CommendedVine Residences
Highly CommendedFern at Grass Residences
Highly CommendedField Residences Building 5 and 6
Best Condo Architectural DesignHighly CommendedS Residences
Best Condo Development (Luzon)Highly CommendedHope Residences
Highly CommendedGreen 2 Residences
Best Condo Development (Visayas)Highly CommendedStyle Residences
Highly CommendedSmile Residences
Best Condo Interior DesignHighly CommendedS Residences
Highly CommendedSail Residences
Highly CommendedShore 3 Residences
Best High-End Condo Development (Metro Manila)Highly CommendedS Residences
Best Landscape Architectural DesignHighly CommendedS Residences
Best Lifestyle DevelopmentHighly CommendedSail Residences
Highly CommendedS Residences
Best Mid-End Condo Development (Metro Manila)Highly CommendedLeaf Residences

See also

Related Research Articles

SM Supermalls, or simply SM, is a chain of shopping malls owned by the Philippines-based SM Prime. As of May 2024, it has a total of 96 malls it also has 13 malls under construction. It was formerly known as Shoemart.

<span class="mw-page-title-main">Henry Sy</span> Filipino business magnate (1924–2019)

Henry Tan Chi Sieng Sy Sr. was a Filipino businessman.

<span class="mw-page-title-main">SM Megamall</span> Shopping mall in Mandaluyong, Philippines

SM Megamall, is a shopping mall located in Ortigas Center, Mandaluyong, Metro Manila, Philippines. It is the third largest shopping mall in the Philippines and the thirteenth largest in the world. SM Megamall is developed and operated by SM Prime Holdings. The mall occupies a land area of approximately 10 hectares and has a total floor area of 474,000 square meters (5,100,000 sq ft). The mall has a maximum capacity of 4 million people.

<span class="mw-page-title-main">SM Investments</span> Philippine conglomerate

SM Investments Corporation (SMIC), also known as SM Group, is a Filipino conglomerate with interests in various sectors, mostly in shopping mall development and management, retail, real estate development, banking, and tourism. Founded by Henry Sy, it has become one of the largest conglomerates in the Philippines, being the country's dominant player in retail with 208 stores nationwide. Of these, 47 are SM Department Stores; 38 are SM Supermarkets; 37 are SM Hypermarkets, and 86 are SaveMore branches.

<span class="mw-page-title-main">SM Mall of Asia</span> Mall in the Philippines

SM Mall of Asia, is a large shopping mall in the Philippines, located at Bay City, Pasay, Philippines, within the SM Central Business Park, a reclaimed area within Manila Bay, and the southern end of Epifanio de los Santos Avenue (EDSA/C-4).

<span class="mw-page-title-main">SM North EDSA</span> Shopping mall in Quezon City, Philippines

SM North EDSA, is a large shopping mall located in Quezon City, Metro Manila, Philippines. It is the first SM Supermall in the country and formerly the largest shopping mall in the Philippines from 2008 to 2011, circa 2014, and from 2015 to 2021.

<span class="mw-page-title-main">Bay City, Metro Manila</span> Central business district in Metro Manila, Philippines

Bay City, also known as the Manila Bay Freeport Zone and Manila Bay Area, is the name for the reclamation area on Manila Bay located west of Roxas Boulevard and the Manila–Cavite Expressway in Metro Manila, Philippines. The area is split between the cities of Manila and Pasay on the north side and Parañaque on the south.

<span class="mw-page-title-main">SM Southmall</span> Shopping mall in Las Piñas, Philippines

SM Southmall, is a large shopping mall in the Philippines, owned and operated by SM Prime Holdings. The mall is located along the busy Alabang-Zapote Road in Las Piñas. The mall has 200,000 m2 (2,200,000 sq ft) of land area, a total floor area of 205,120 m2 (2,207,900 sq ft) and a gross built-up area of 189,676 m2 (2,041,660 sq ft). It is currently the 7th largest SM Supermall in the Philippines after SM Mall of Asia, SM North EDSA, SM Megamall, SM Seaside City, SM City Fairview and SM City Cebu.

<span class="mw-page-title-main">SM City Fairview</span> Shopping mall in Quezon City, Philippines

SM City Fairview is a large shopping mall in the Philippines owned and operated by SM Prime Holdings. It is located along Quirino Highway and Regalado Highway, Quezon City, Metro Manila. It opened on October 25, 1997. It is the third SM Supermall in Quezon City, after SM North EDSA and SM City Sta. Mesa. It has a land area of 202,000 square meters, a total gross floor area of 312,749 square meters (3,366,400 sq ft), making it the fifth largest SM Supermall within the country after SM North EDSA, SM Megamall, SM Seaside City, and SM Mall of Asia as well as the sixth largest shopping mall in the Philippines, in terms of total floor area. Although it is named after the nearby Fairview area or barangay, it is located in Barangay Greater Lagro.

<span class="mw-page-title-main">The Podium</span> Place in Mandaluyong, Philippines

SM The Podium is a mixed-use development located along ADB Avenue in the Ortigas Center, a major business and commercial district in Mandaluyong, Philippines. It was developed in December 2001 and officially opened in August 2002 as a joint project of Singaporean company, Keppel Land, and BDO Unibank.

<span class="mw-page-title-main">SM City Iloilo</span> Shopping mall in Iloilo City, Philippines

SM City Iloilo is a large shopping mall in Mandurriao, Iloilo City, Philippines, owned and operated by SM Prime Holdings. It is the 8th SM Supermall built by the company. It is located along Senator Benigno Aquino Jr. Avenue in the district of Mandurriao. It has a land area of 170,000 m2 (1,800,000 sq ft) and a total gross floor area of 181,657 m2 (1,955,340 sq ft).

<span class="mw-page-title-main">SM Aura</span> Shopping mall in Taguig, Philippines

SM Aura, is a large upscale shopping mall located at 26th Street corner McKinley Parkway, Bonifacio Global City, Barangay Fort Bonifacio, Taguig, Philippines, owned by SM Prime Holdings, the country's largest mall developer. It is the 13th SM Supermall in Metro Manila and 47th SM Prime mall in the Philippines. It was the 2nd SM Supermall to be called "Premier" after SM Lanang. The shopping center is situated near its rival mall Market! Market!, owned by Ayala Malls, a real estate subsidiary of Ayala Land, and affiliate of Ayala Corporation. It is designed by EDGE Interior Designers and Arquitectonica.

<span class="mw-page-title-main">SM Seaside City</span> Shopping mall in Cebu City, Philippines

SM Seaside City, is a large shopping mall owned and developed by SM Prime Holdings in South Road Properties, Cebu City, Philippines. The mall opened on November 27, 2015, exactly 22 years after SM City Cebu, another mall also owned by SM Prime in Cebu City, opened in 1993.

SM Estates, are integrated mixed-used developments of SM Prime Holdings. The Estates combine elements of SM Prime's core segments such shopping malls, residential development, commercial development, hotels and conventions, and leisure areas and resorts. SM Prime plans to develop more "estates" similar to the 60-hectare Mall of Asia Complex in Pasay which will optimize land where premiere malls currently stand. Subsequent Estates are planned for SM City Clark in Angeles City, SM North EDSA, SM Lanang in Davao, SM Southmall and in its rising development SM Seaside City.

<span class="mw-page-title-main">SM City Cabanatuan</span> Shopping mall in Nueva Ecija, Philippines

SM City Cabanatuan is a shopping mall owned by SM Prime Holdings with a gross floor area of 154,020 m2 (1,657,900 sq ft). It is the second SM Supermall in Cabanatuan City and Nueva Ecija after the acquisition of Megacenter by SM Supermalls. It is located along Brgy. Hermogenes Concepcion, Cabanatuan City, Nueva Ecija, Philippines.

<span class="mw-page-title-main">SM City Santa Rosa</span> Shopping mall in Laguna, Philippines

SM City Santa Rosa is a large shopping mall owned and operated by SM Prime Holdings. It is located along Old National Highway, Barangay Tagapo, Santa Rosa, Laguna, Philippines. Opened in 2006, it is the first SM Supermall in the province of Laguna.

SM Retail Inc. is a retail holding company based in Pasay, Philippines. It is a subsidiary of the conglomerate SM Investments Corporation. SM Retail has been a member of the International Association of Department Stores since 2009.

<span class="mw-page-title-main">SM City Legazpi</span> Shopping mall in Albay, Philippines

SM City Legazpi is a shopping mall owned and operated by SM Prime Holdings, the largest retail and mall operator in the Philippines. It is located along Imelda C. Roces Avenue corner Terminal Road, Barangay Bitano, Legazpi City, Albay. Opened on September 14, 2018, it is the first SM Supermall in Albay and the second in the Bicol Region following SM City Naga. It is also the 71st SM Supermall in the Philippines after SM City Telabastagan in San Fernando, Pampanga. SM City Legazpi is currently the largest mall in the Bicol Region based on gross floor area with 87,706 m2 (944,060 sq ft) of total floor space.

<span class="mw-page-title-main">SM City Valenzuela</span> Shopping mall in Valenzuela, Philippines

SM City Valenzuela, is a shopping mall owned and operated by SM Prime Holdings, the largest retail and mall operator in the Philippines. It is located along MacArthur Highway, Barangay Karuhatan, Valenzuela City. Opened on October 28, 2005, it is the first SM Supermall in Valenzuela City and in the CAMANAVA Area. It is also the 21st SM Supermall in the Philippines and the 10th in Metro Manila after SM City San Lazaro in Santa Cruz, Manila.

<span class="mw-page-title-main">SM City Olongapo Central</span> Shopping mall in Olongapo, Philippines

SM City Olongapo Central is a shopping mall owned and operated by SM Prime Holdings, the largest mall owner and operator in the Philippines. It is the second SM Supermall in Zambales and the second SM Supermall in Olongapo after SM City Olongapo Downtown. It is the largest SM Mall in Zambales in terms of floor area, with 72,940 m2 (785,100 sq ft).

References

  1. "SM PRIME HOLDINGS, INC". marketscreener.com. Retrieved September 23, 2023.
  2. "BDO Annual report" (PDF). www.bdo.com.ph. 2016. Retrieved September 29, 2019.
  3. "2016 SMIC Annual Report" (PDF). Archived from the original (PDF) on February 5, 2018. Retrieved August 2, 2017.
  4. "Press Release". edge.pse.com.ph. February 20, 2023. Retrieved February 21, 2023.
  5. SEC approval of amendment to Plan of Merger bet. SMPH and SM Land - PSE.com.ph Archived 2015-09-24 at the Wayback Machine
  6. "About SM Supermalls". SM Supermalls. Archived from the original on September 29, 2020. Retrieved January 22, 2019.
  7. "Home SM Offices". www.smoffices.com.
  8. "About".
  9. "SMDC Wins Big at the 8th PropertyGuru Philippines Property Awards". December 2020.
  10. "See Who Emerged Victorious at the 8th PropertyGuru Awards". BluPrint. December 15, 2020. Retrieved March 1, 2021.