SM Prime Holdings
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| SM Prime Holdings | |
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| Type | Public |
| Founded |  Manila, Philippines (1994) |
| Headquarters | Pasay City, Philippines |
| No. of locations | 29 malls as of September, 2007, with 14 proposed or under construction |
| Area served | Philippines Xiamen, China Guam |
| Key people | Henry Sy, Sr. (Founder, Chairman and CEO) |
| Industry | Retail |
| Subsidiaries | Star Appliance Center; Surplus Shop; Sports Central; Baby & Co.; Home World; Our Home |
| Website | smprime.com |
SM Prime Holdings, Inc (PSE: SMPH) 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 by Filipino-Chinese entrepreneur Henry Sy 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 later went public on 5 July 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 include rental income from mall and food courts, cinema ticket sales and amusement income from bowling and ice-skating.
Currently, it has 30 operating malls totaling a gross floor area of 2.7 million square meters located in Metropolitan Manila, Cavite, Bulacan, Pampanga, Baguio City, Angeles City, Cebu City, Iloilo City, Bacolod City, Davao City and Cagayan de Oro City.
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.[1]
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[edit] History
The roots of SM date back to the 1950s when entrepreneur Henry Sy established a shoe store in Binondo, 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 Shoemart" by the locals. The SM in Binondo was later abandoned and moved in the present site in Quiapo near the Manila LRT Yellow Line. The old site was demolished in 1982.
The first SM Supermall, SM City North EDSA, was opened in 1985 and started the Philippine "malling" phenomenon[citation needed]. Sy observed the malling hoby of Filipinos and opted to make every SM Supermall like an amusement park. The all SM Supermalls have at least one or more amusement facilities, such as cinemas, bowling alleys, convention centers and games 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 (churches, schools, major roads and highways, etc). SM opened its first department store outside Metro Manila (SM Delgado) in Iloilo City in 1979 was renovated in 2004 and is currently under expansion.
The first ice skating rink in the Philippines was opened in SM Megamall in 1991. With this first, SM introduced Filipinos to an art-sport otherwise unpopular in tropical countries. The SM Supermalls also house 146 cinemas (with over 103,708 total seating capacity), making SM Prime Holdings, Inc. the largest cinema operator in the country.
As of 2006, SM Prime Holdings, Inc. is embarking on an aggressive expansion program within the next five years. In preparation for this expansion, SM Prime Holdings, Inc. has amassed a total landbank of 96.6 hectares in 10 strategic locations. Included are attractive properties in provinces where urbanization is steadily underway, such as Cabanatuan, Pangasinan and Bulacan.
By 2006, five additional SM Supermalls will be operational, including the Mall of Asia which has opened recently. This is SM Prime Holdings, Inc.’s most expensive project to date.
In 2008, 5 new malls will be opened: SM Marikina, SM Baliuag (Bulacan), SM Rosales (Pangasinan), SM Nagtahan (Manila), and SM Vito Cruz (Manila).[2]
The SM Group has engaged in other retail endeavors through other SM- related companies such as, among others: Watsons Personal Care Stores, Inc., a joint-venture with Hutchison-Whampoa Ltd. of Hong Kong; International Toy World (Toy Kingdom); Ace Hardware Philippines, a joint-venture with Ace Hardware Corporation USA; [Star Appliance Center; Surplus Shop; Sports Central; Baby & Co.; Home World; and Our Home. The amusement center is SM Storyland by Alexis Cerado.
[edit] Financial performance
SMPH posted an 8.6% increase in net income to P4.62 billion from P4.26 billion. This is due to a healthy increase in gross revenues, by 15.99% to P10.21 billion from P8.80 billion. Rental income, which contributed 80.14% of the Company's revenues, rose by 17.18% to P8.18 billion from P6.98 billion. This was due to rentals from three additional SM Supermalls opened in the last quarter of 2003, namely, SM City Lucena, SM City Baguio and SM City Marilao and the opening of SM City Dasmarinas and SM City Batangas in 2004. On the other hand cinema ticket sales increased by 11.26% to P1.50 billion from P1.34 billion. Other sources of revenue grew 12.01% to P532.52 million from P475.43 million.[citation needed].
[edit] Malls
[edit] SM Supermalls
| Name | Opening | Land area (m²) | Floor area (m²) | Location |
|---|---|---|---|---|
| SM City North EDSA | November 1985 | 161,000 | 351,861 And Currently Under A Major Renovation | North Avenue cor. EDSA, Quezon City, Metro Manila |
| SM City Sta. Mesa (formerly SM Centerpoint) | September 1990 | 30,000 | 133,327 | Ramon Magsaysay Boulevard cor. Araneta Ave., Barangay Dona Imelda Quezon City, Metro Manila |
| SM Megamall | June 1991 | 105,000 | 331,679 And Currently Under Expansion | EDSA cor. Julia Vargas Avenue, Ortigas Center, Mandaluyong City, Metro Manila |
| SM City Cebu | November 1993 | 161,562 | 268,611 including the Northwing | North Reclamation Area, Cebu City, Cebu |
| SM City Southmall | April 1995 | 200,000 | 205,120 | Alabang-Zapote Road, Las Piñas City, Metro Manila |
| SM City Bacoor | July 1997 | 88,000 | 116,892 | General Emilio Aguinaldo Highway cor. Tirona Highway, Brgy. Habay, Bacoor, Cavite |
| SM City Fairview | October 1997 | 200,000 | 154,183 with an expansion of 23,000 making it a total of 177,183 m² | Quirino Hwy. cor. Regalado Ave. and Belfast St., Greater Lagro, Quezon City, Metro Manila |
| SM City Iloilo | June 1999 | 175,000 | 101,735 | Benigno S. Aquino Jr. Avenue, Jaro West Diversion Road, Mandurriao, Iloilo City, Iloilo |
| SM City Manila | April 2000 | 25,000 | 166,554 | Natividad Almeda-Lopez (formerly called Concepcion) corner A. Villegas (formerly called Arroceros) and San Marcelino Streets, Ermita, Manila |
| SM City Pampanga | November 2000 | 316,000 | 128,089 (A new annex is already opened) | Olongapo-Gapan Road corner North Luzon Expressway, Brgy. Lagundi, Mexico, Pampanga and Brgy San Jose, City of San Fernando, Pampanga |
| SM City Sucat (formerly SM Supercenter Sucat) | July 2001 | 65,000 | 98,106 including the new annex | Dr. A. Santos Avenue corner Carlos P. Garcia Avenue Extension (C5), Brgy. San Dionisio, Parañaque City, Metro Manila |
| SM City Davao | November 2001 | 132,000 | 75,440 | Quimpo Boulevard corner Tulip Drive, Ecoland Subdivision, Brgy. Matina, Davao City, Davao Region |
| SM City Bicutan | November 2002 | 18,000 | 112,737 | Doña Soledad Avenue corner West Service Road (beside Exit 14, Bicutan exit), Brgy. Don Bosco, Bicutan, Parañaque City, Metro Manila |
| SM City Cagayan de Oro | November 2002 | 52,000 | 86,288 | Masterson Avenue cor Gran Via St., Brgy. Carmen, Cagayan de Oro, Misamis Oriental |
| SM City Lucena | October 3, 2003 | 80,000 | 78,655 | Maharlika Highway corner Dalahican Road, Brgy. Ibabang Dupay, Lucena City, Quezon |
| SM City Marilao | November 2003 | 203,000 | 88,654 | MacArthur Highway, Brgy. Lias, Marilao, Bulacan |
| SM City Baguio | November 23, 2003 | 80,000 | 105,331 | Luneta Hill, Upper Session Road corner Governor Pack Road, Baguio City, Benguet |
| SM City Dasmariñas | May 21, 2004 | 127,000 | 79,792 | Governor's Drive, Brgy. Sampaloc 1, Dasmariñas, Cavite [1] |
| SM City Batangas | November 12, 2004 | 85,000 | 76,819 | Brgy. Pallocan Kanluran, Batangas City, Batangas |
| SM City San Lazaro | July 15, 2005 | 40,000 | 179,000 | Felix Huertas Street corner Arsenio H. Lacson Extension, Santa Cruz, Manila |
| SM Supercenter Valenzuela | October 28, 2005 | 24,000 | 61,460 | MacArthur Highway, Brgy. Karuhatan, Valenzuela City, Metro Manila |
| SM Supercenter Molino | November 18, 2005 | 48,000 | 48,248 | Molino Road, Brgy. Molino 4, Bacoor, Cavite |
| SM City Santa Rosa | February 17, 2006 | 170,000 | 79,325 | Old National Highway, Barrio Tagapo, Santa Rosa City, Laguna |
| SM City Clark | May 12, 2006 | 176,500 | 98,824.19 | M.A. Roxas Avenue, Clark Special Economic Zone, Angeles City, Pampanga |
| SM Mall of Asia | May 21, 2006 | 195,000 | 407,101 (As Of 2007) | SM Central Business Park, North Reclamation Area, Bay City, Pasay City, Metro Manila |
| SM Supercenter Pasig | August 19, 2006 | 20,080 | 29,017.12 | E. Rodriguez, Jr. Ave. (C5) corner Doña Julia Vargas Ave., Frontera Verde, Ortigas Center, Brgy. Ugong, Pasig City, Metro Manila |
| SM City Lipa | September 22, 2006 | 103,242 | 72,035 | J.P. Laurel Highway, Lipa City, Batangas |
| SM City Bacolod | March 2, 2007 | 161,096.60 | 61,413 | Rizal Avenue, Reclamation Area, Bacolod City, Negros Occidental |
| SM City Taytay | November 9, 2007 | 38,525 | 91,920 | Manila East Road corner Bulacan-Rizal-Manila-Cavite Regional Expressway, Taytay, Rizal |
| SM Supercenter Muntinlupa | November 16, 2007 | 52,000 | km. 29 National Road, Tunasan, Muntinlupa City | |
| SM City Baliuag | March 2008 | Maharlika Highway, Baliuag, Bulacan | ||
| SM City Marikina | June 2008 | 60,000 | 124,877.85 | Marcos Highway corner East Marikina Riverbanks Service Road, Marikina Riverbanks, Calumpang, Marikina City, Metro Manila |
| SM City Naga | August 2008 | 44,000 [2] | 73,300 [3] | CBD II, Brgy. Triangulo, Naga City, Camarines Sur |
| SM Supercenter Rosales | September 2008 | McArthur Highway, Rosales, Pangasinan | ||
| SM City Tarlac | 103,000 | MacArthur Highway, Brgy. San Roque, Tarlac City, Tarlac | ||
| SM City Calamba | ? | Maharlika Highway, Brgy. Makiling, Calamba City, Laguna | ||
| SM City San Pablo | late 2009 or early 2010 | Maharlika Highway, Brgy. San Francisco, San Pablo City, Laguna | ||
| SM Supercenter Tagaytay | ? | Aguinaldo Highway, Tagaytay City, Cavite |
[edit] Branches in China
- SM City Xiamen
- SM City Jinjiang
- SM City Chengdu
- SM City Chongqing
[edit] Branch in Guam
- SM Guam
- 42,000 sq ft. Opened 2006 in the Agana Shopping Center in Hagatna, which SM also bought and repaired after it was severely damaged by Typhoon Pongsona. It is the first SM store on US territorial soil since a previous attempt in the 1970's—before SM had grown into a retail giant.
[edit] Standalone Appliance Centers
| Name | Location |
|---|---|
| SAC Rockwell Power Plant Mall | Basement 1 Floor, Rockwell Power Plant Mall, Brgy. Poblacion, Makati City |
| SAC V-Mall Greenhills | Ground Floor, V-Mall, Missouri Street, Greenhills, San Juan City, Metro Manila |
[edit] Specialty shopping malls
- The Podium - ADB Avenue, Ortigas Center, Mandaluyong City
[edit] Standalone department stores
The SM Group's standalone department stores are not within the listed entity of SM Prime, but are in the parent to SM Prime, namely SM Investment (SM.PH).
[edit] Standalone supermarkets
The SM Group's standalone supermarkets are not within the listed entity of SM Prime, but are in the parent to SM Prime, namely SM Investment (SM.PH).
[edit] External links
[edit] References
- ^ Inquirer.net, SM joins $1B casino project, Alliance gains on Star Cruises tie-up SMPH currently operates three malls in the southern and western parts of China, namely, Xiamen, Jinjiang and Chengdu. The mall in Xiamen was the first to open in December 2001. It has a gross floor area (GFA) of 128,000 sq m, almost similar in size to SM City Sta. Mesa and is 100-percent occupied. SM Jinjiang opened in November 2005 with a GFA of 170,000 sq m and occupancy of 74 percent. Opened last year was SM Chengdu with a GFA of 170,000 sq m and an occupancy rate of 71 percent. Another mall is up for construction in the third quarter and would be situated in Chongqing, southwest China’s commercial capital. SMPH is spending P1 billion to build the said mall. It will have a gross floor area of 140,000 sq m and is up for completion by 2010.
- ^ Shopping Center Management Corporation (SM Supermalls)
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