SM Prime at 30: A legacy of innovation and shared prosperity

MANILA, Philippines — On July 23, SM Prime Holdings Inc. proudly commemorated its 30th anniversary as a publicly listed company at the Philippine Stock Exchange (PSE) in BGC, Taguig, marking three decades of service and transformative growth 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.

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 eight convention centers.

This robust growth trajectory has been fueled by the trust and support of its investors and the flourishing capital market provided by the PSE. 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.

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 17,000 rooms, and continue developing mixed-use commercial buildings that combine office and retail spaces.

As a leading property developer in major Philippine cities, SM Prime continues to help Filipino communities thrive. With MSMEs