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New malls boost SM Prime Holdings income

SM Prime Holdings has reported a 16 per cent rise in income in the first half of this year.

Sales, boosted by new mall and residential projects, reached a total of P16.6 billion (US$313 million). The firm opened shopping centres in Cavite, Pangasinan and Pampanga during the period and now operates 77 in all, seven of them in China.

SM Prime president Jeffrey C Lim said: “We intend to deliver more integrated developments in the coming years anchored by lifestyle malls, luxurious yet affordable residences and other complementary amenities across the country.”

SM Prime is set to open new malls in Albay and Leyte later this year.

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