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SM Prime mulls ASEAN mall options

With the Philippines shopping centre ranks nearing capacity – for now – where will SM Asia head next?

SM Prime earmarks P180bn for expansion

SM Prime, the property company of the Philippines’ biggest mall developer, has earmarked P60 billion for expansion.

Philippine property giants turn to retail

Philippine property giants are entering record capital expenditure programs in 2016, on the back of strong economy, according to the global property advisor Savills.

SM Center Sangandaan opens

SM Center Sangandaan has opened its doors – owner SM Prime’s 55th mall in the Philippines.

SM Prime Cabanatuan opens

SM Prime Cabanatuan opens today, October 9, the mall giant’s 53rd centre.

New malls boost SM Prime revenue

SM Prime Holdings has posted a 90 per cent increase in first half year sales to PHP18.7 billion (US$408 million).

Milestone for Filipino mall giant

SM Prime Holdings has opened its 50th shopping mall. In a disclosure to the Philippine Stock Exchange, SM Prime said its total mall retail floor space has now reached 6.4 million sqm, the largest of any mall developer in the nation. The newest centre is the 41,481 sqm SM Center Angono, in the province of Rizal, described as the “Arts Capital of the Philippines”. Tenants include the largest supermarket in the municipality, a Savemore, Ace Hardware, Watsons and BDO. It will also have 229 …

Malls make more for SM Prime

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…

SM China malls win award

Filipino property conglomerate SM Prime has clinched three major awards recognising the company’s malls in China. The 12th Annual Conference of Mall China International Symposium hosted by China Shopping Center Development Association (Mall China) recognised SM Prime for SM City Xiamen/SM Lifestyle Center, awarded the Mall China Golden Mall Awards 2014 City Advancement Award; SM City Chengdu Chenghua, Mall China Golden Mall Awards 2014 Community Shopping Center Award; and SM City Chongqing …

Watsons boosts Philippine business

Health and beauty retailer Watsons plans to roll out 50 new stores annually across the Philippines to boost its market share. The Watsons Philippine business is a joint venture between SM Prime and Hong Kong’s AS Watson of the Hutchison Whampoa Group. Watsons plans to increase its store count in the country from 382 at the moment to 410 by the end of the year. The expansion is aimed at increasing its current six per cent market share by one per cent annually. Watsons Philippines he…

SM reveals China expansion plan

Filipino mall developer SM Prime will continue to expand its Chinese footprint. SM has allocated $200 million to acquire properties and open malls in China. It is currently constructing SM Tianjin, slated to open in 2015. It also bought a property in Yangzhou City to build a mall opening in 2016. On top of that, it is also buying another three properties in mainland China to take advantage of the strong purchasing power there. Its optimism about the Chinese market stems from the fact…

SM opens 49th mall

SM Prime has opened its 49th Philippine mall – in Cauayan, Isabela province. The mall spanning about 66,299 sqm, is SM’s first open air, strip style mall. Designed by EDGE Interior Designers and Arquitectonica, the mall incorporates nature into the design. Ceiling fans are strategically located to ventilate the arcaded walkways and storefront hallways, a green and cost-effective approach compared with the typical use of air conditioner units. Its exterior features include warmly c…