Property developer marks 30th listing anniversary

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Property developer marks 30th listing anniversary

SM Prime

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Updated Jul 26, 2024 02:23 PM PHT

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SM Prime Holdings' Board of Directors Hans Sy, Amando Tetangco, Jr., Jeffrey Lim, and Henry Sy, Jr. lead a bell-ringing ceremony with Philippine Stock Exchange's President and CEO Ramon Monzon, Directors Eddie Gobing, and Ma. Vivian Yuchengco, COO Atty. Roel Refran, Issuer Regulation Division Head Atty. Marigel Baniqued-Garcia, and General Counsel Atty. Veronica Del Rosario, celebrating 30 years of achievements and shared success. Photo source: SM Prime 

On July 23, SM Prime Holdings, Inc. commemorated its 30th anniversary as a publicly listed company at the Philippine Stock Exchange, BGC, marking three decades of service in the Philippine real estate industry. Founded in 1994 by the visionary Henry Sy, SM Prime has remained steadfast in its mission to develop world-class shopping, dining, entertainment, residential, and amusement destinations throughout the country and beyond.

SM Prime Holdings Chairman Henry Sy, Jr. receives the 30th Listing Anniversary Plaque from Philippine Stock Exchange President and CEO Ramon Monzon, commemorating three decades in the Philippine real estate industry. Photo source: SM Prime 

Reflecting on the journey

From the initial offering of four malls, SM Prime has expanded into a dominant force in Southeast Asia's property sector. The company now has a multi-sector Philippine portfolio of 22 lifestyle cities that include 91 residential developments, 86 malls, 22 office towers, 10 hotels and 8 convention centers. This growth has been fueled by the trust and support of its investors and the flourishing capital market provided by the Philippine Stock Exchange. Incorporated in January 1994, SM Prime has remained committed to shared prosperity. Raising approximately P5.89 billion ($221 million) during its IPO, SM Prime is now one of the most active stocks in the Philippine market, alongside its parent company SM Investments Corp., and subsidiaries BDO and Chinabank.

Over the years, SM Prime has faced and overcome significant challenges, including the 1997 Asian financial crisis, the 2008 global financial crisis, and the recent COVID-19 pandemic. Despite these hurdles, the company has remained resilient, continuing to drive system growth.

Celebrating successes together

On its 30th anniversary, SM Prime is opening three malls: SM City Caloocan, SM City J Mall in Cebu, and SM City Laoag in Ilocos Norte. This year also marks the start of the redevelopment and expansion of SM Megamall and ongoing projects at SM Mall of Asia, SM City Cebu, SM City Iloilo, and SM City Bacolod. Additionally, SM Prime will enhance its Leisure Homes in Tagaytay and Batangas, establish new hotels with around 1,700 rooms, and continue developing mixed-use commercial buildings that combine office and retail spaces. 

SM Prime Holdings President Jeffrey Lim shares insights, reflecting on 30 years of innovation and growth in the Philippine real estate industry. Photo source: SM Prime 

As one of the leading property developers in major Philippine cities, SM Prime continues to strive to help Filipino communities thrive. With MSMEs making up 63% of its commercial tenants, SM Prime developments offer job and business opportunities through various support programs and job fairs, fostering economic growth for local enterprises and the LGUs.

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This commitment to sustainable growth reflects the efforts of SM Prime's shareholders, customers, business partners, and employees. The support of shareholders has been a driving force behind SM Prime's achievements, while the loyalty and trust of customers have inspired ongoing innovations. The collaborative spirit of business partners has been instrumental in reaching new heights, and the dedication of SM Prime's employees has been foundational to its success. 

Looking forward to a sustainable future

SM Prime is dedicated to continuously integrating sustainable practices across its operations, from energy-efficient building designs to waste management programs. SM Prime's commitment to sustainability aims to maintain its positive impact on the environment and society.

SM Prime Holdings and PSE representatives celebrate 30 years of groundbreaking achievements and shared prosperity in the Philippine real estate market. Photo source: SM Prime 

Looking ahead, the company is poised to further its growth and innovation, delivering value, enriching communities, and contributing to socio-economic development as it aims for a sustainable and prosperous Philippines.

SM Prime remains committed to being a contributor for economic growth, delivering innovative and sustainable lifestyle cities, and helping enrich the quality of life for millions. 

For more information, visit www.smprime.com.

NOTE:  BrandNews articles are promotional features from our sponsors and not news articles from our editorial staff.

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