SM Malls Archives - Inside Retail Asia
Jins Philippines has opened its first store – at SM Aura in Taguig City.
SM Malls, which now total 56 in the country, have evolved into sustainable structures that are proving to be valuable and sensible investments.
SM Retail of the Philippines has reported a 6.5 per cent increase in sales over the first nine months of the year to PHP145.3 billion (US$3.1 billion).
How Filipino property giant SM Malls is transforming its shopping centre designs to reflect shopper aspirations.
Revenues from new shopping centres drove a 12 per cent third quarter boost in net income for Filipino property developer SM Prime. The diversified property conglomerate, and the largest shopping centre operator in the Philippines, says its third quarter sales growth was the same as for the first half. Third quarter profit was PHP 3.7 billion (US$92.5 million) Rental revenues from retail and commercial space grew by 11 per cent to P26.4 billion, accounting for 55 per cent of the company’s…
Filipino mall developer SM Prime plans to list its shopping malls in China through an initial public offering. The company plans to execute the plan once it has expanded its current portfolio of five, with one due to open in Shandong this year and another in Tianjin next year. It hopes to open 10 to 12 malls before the IPO. “The long term plan is that as soon as we have enough malls, then we can separately list the China malls, either in Hong Kong or Singapore,” says Jose Sio, CFO at SM. …