SM Prime Holdings

SM Prime Holdings

Type	Public company
Traded as	PSE: SMPH
Industry	Property, shopping malls and retailing
Founded	Manila, Philippines 1958 (1958)
Headquarters	Pasay City, Philippines
Number of locations	71 malls 2,303 stores nationwide 48 SM Supermarkets, 44 SM Hypermarkets, 156 Savemore stores, 39 WalterMart stores, 210 Alfamart stores, and 1,749 specialty stores[1][2]
Area served	Philippines China Guam
Key people	Henry Sy, Sr. (founder, Chairman and CEO)
Parent	SM Investments Corporation
Website	SM Prime Holdings

SM Prime Holdings, Inc. or SM Prime is the parent company of the SM Group's shopping malls. It is the largest shopping mall and retail operator in the Philippines. It was incorporated on 6 January 1994 to develop, conduct, operate and maintain the SM commercial shopping centres and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centres. 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. As of 2007, SM Prime Holdings became one of the largest shopping mall chains in the world. 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.

Currently, it has 70 malls, 63 in the Philippines and 7 in China, totaling a gross floor area of 9.1 million square meters located in the following locations: Metro Manila, Baguio City, Pangasinan, Cauayan City, Central Luzon (Cabanatuan City, Bulacan, Pampanga and Angeles City, Tarlac and Olongapo City), Calabarzon (Cavite, Laguna, Batangas, Rizal and Lucena City), Naga City, Visayas (Iloilo City, Bacolod City and Cebu City) and Mindanao (Davao City, Cagayan de Oro City, General Santos City and Zamboanga City), as well as in Xiamen, Jinjiang, Chengdu, Suzhou, Chongqing, Zibo and Tianjing.

On April 2, 2008, SM Investments Corp. (the parent company to SM Prime) announced that it would participate in a $1 billion casino project in Manila. The 40-hectare Bagong Nayong Pilipino-Manila Bay Integrated Tourism Project consists of a casino, hotels, shopping malls and other entertainment facilities.^[3] In July 2012, SM partnered with Lawrence Ho of Macau-based Melco International Development, the son of casino magnate Stanley Ho, and James Packer, the son of the late Australian media giant, Kerry Packer, to proceed with the new casino development, which is expected to capitalize on a growing middle class and increased tourism.^[4]

History

SM City North EDSA, the first SM Supermall in the Philippines

The roots of SM date back to the 1950s when entrepreneur Henry Sy, Sr. established a shoe store in Carriedo, the then-central business district of Manila. His aggressive and adamant strategy helped him gain large profits within a few years and he later expanded his business in Quiapo to become a fully functioning department store named "Shoemart", specialising in the sale of shoes, the sector of which the store originally was. Shoemart was later abbreviated to SM and became commonly known as "SM" or "Shoemart" by the locals. The SM in Carriedo was later abandoned and moved to the present site in Quiapo near the Manila LRT Line 1. The old site was demolished in 1982 and was turned into its Clearance Outlet.

The first SM Supermall, SM City North EDSA, was opened in 1985. Each contains at least one or more amusement facilities, such as cinemas, bowling centers, convention centres and game arcades.

Located in several cities and areas in Metro Manila, as well as major provincial cities, each SM is easily accessible and situated by places of public interest, such as churches, schools, and highways. SM opened its first department store outside Metro Manila (SM Delgado) in Iloilo City in 1979 and was relaunched in 2004.

On May 21, 2006, SM opened the SM Mall of Asia.

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]

Malls

SM Prime Holdings maintains shopping malls in both the Philippines and China.

Standalone department stores

The SM standalone department stores were some of the first department stores before the company grew into a big business.

Commercial Properties Group

Residential properties

SM Development Corporation (SMDC)

To date, properties of SM Development Corporation are situated in areas across Metro Manila specifically in the cities of Las Piñas, Makati, Mandaluyong, Manila (City of Manila), Parañaque, Pasay, Pasig, Quezon City, and Taguig, as well as Tagaytay City in the province of Cavite.

SMDC Premier

SMDC Properties

Tagaytay Highlands Highlands Prime, Inc. is a property developer in Tagaytay with 1,300 hectares of property in the Tagaytay Highlands mountain resort and residential complex.

The Highlands

• The Woodridge
• The Woodridge Place
• The Woodridge Place Phase II
• The Woodlands Point
• The Woodlands
• The Belle View
• Pinecrest Village
• The Villas
• The Hillside
• Aspenhills

'The Greenlands'

• Fairfield
• Nob Hill
• The Verandas
• The Parks at Saratoga Hills
• Plantation Hills

The Midlands

• Sierra Lago
• The Horizon
• Pueblo Real
• Alta Mira
• Lakeview Heights
• Lakewood Fairways
• Kew Gardens
• Terrazas de Alava
• Lakeside Enclave
• Tivoli Place
• Cotswold
• Katsura
• Yume
• Sycamore Heights
• Vireya
• Horizon Terraces

Hotels and convention centers

See also

• SM Supermalls
• The SM Store
• List of shopping malls in the Philippines
• List of largest shopping malls in the Philippines

References