SM Prime Holdings

SM Prime Holdings

Type	Public company
Traded as	PSE: SMPH
Industry	Property, Shopping malls and retailing
Founded	Manila, Philippines (1958)
Headquarters	Pasay City, Philippines
Number of locations	55 malls (as of November 27, 2015)
Area served	Philippines China Guam
Key people	Henry Sy, Sr. (Founder, Chairman and CEO)
Parent	SM Investments Corporation
Slogan	We've got it all for you!
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 later 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 include rental income from mall and food courts, cinema ticket sales and amusement income from bowling and ice-skating.

Currently, it has 52 operating malls totalling a gross floor area of 5.5 million square metres located in Metro Manila, Baguio City, Angeles City, Bacolod City, Olongapo City, Batangas, Bulacan, Cavite, Laguna, Pampanga, Tarlac, Lucena City, Pangasinan, Rizal, Cagayan de Oro City, Cebu City, Davao City, Metro Iloilo, General Santos City, Naga City, Cauayan City and Cabanatuan 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] 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.^[2]

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 in 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 and started the Philippine "malling" phenomenon. Sy observed the malling hobby of Filipinos and opted to make every SM Supermall like an amusement park. All SM Supermalls contain 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 (churches, schools, major roads, highways, etc.). SM opened its first department store outside Metro Manila (SM Delgado) in Iloilo City in 1979 and was relaunched in 2004.

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

In 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).^[3]

Malls

Philippines

China

Pacific Islands

• SM Store Guam
  • 42,000 sq ft (3,900 m²). Opened 2006 in the Agana Shopping Center in Guam, which SM also bought and repaired after it was severely damaged by a typhoon. It is the 1st SM store on US territorial soil since a previous attempt in the 1970s—before SM had grown into a retail giant.^[4]

Standalone department stores

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

See also

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

References

External links

• SM Prime Holdings

Wikimedia Commons has media related to SM Prime Holdings.

PSE Composite Index companies of the Philippines Ayala Aboitiz Equity Ventures Alliance Global Ayala Land Aboitiz Power BDO Bloomberry Resorts BPI DMCI EDC Emperador First Gen Globe GT Capital ICTSI Jollibee JG Summit LT Group Metrobank Megaworld Meralco Metro Pacific Petron PLDT Robinsons Land Semirara Mining SM Investments San Miguel SM Prime Universal Robina