Julia Christine Botin

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA — SM Prime Holdings said Monday its net income for the first nine months of the year rose 10 percent to P37.2 billion, lifted by steady growth in its mall and convention center businesses.The company reported a third-quarter net profit of P12.8 billion, up 8 percent from P11.8 billion in the same period last year, while total revenues for the nine months increased 4 percent to P103.4 billion from P99.8 billion.“Our malls remain strong anchors for growth,” said SM Prime President Jeffrey Lim. “Their performance was driven by regional expansion, the upgrading of flagship malls, and the introduction of more experiential retail and dining concepts.”Malls continued to be the main revenue driver, accounting for 59 percent of consolidated revenues. Mall revenues climbed 7 percent to P61 billion from P57.3 billion, reflecting increased leasable space and new tenants.The residential segment, which includes both core housing and leisure developments, contributed 31 percent of total revenues but slipped 2 percent to P32.6 billion from P33.1 billion, amid slower revenue recognition from mid-segment projects.Hotels and convention centers posted the fastest growth at 9 percent, rising to P6 billion from P5.5 billion, driven by higher bookings from meetings, incentives, conferences, and exhibitions (MICE). Office and warehouse revenues held steady at P4 billion, or about 4 percent of the total.“The residential and office segments were tempered by macroeconomic conditions, but recovery initiatives are underway,” Lim said.Capital expenditures rose 11 percent to P59.3 billion, mainly for mall and residential projects. The company ended the period with total assets of P1.08 trillion, and P33.2 billion in cash and cash equivalents.In an interview with ANC, SM Prime Executive Committee Chairman Hans Sy said that the company remained focused on growth despite current economic challenges.

“Our malls remain strong anchors for growth,” said SM Prime President Jeffrey Lim.

“Our malls remain strong anchors for growth,” said SM Prime President Jeffrey Lim.

SM Prime nine-month net income up 10 percent on strong mall, convention business

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SM Prime nine-month net income up 10 percent on strong mall, convention business

Arthur Fuentes,

ABS-CBN News

Published Nov 10, 2025 02:20 PM PHT

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SM Prime

SM malls

SM convention centers

Hans Sy

property

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