SM Prime Holdings

SM Prime Holdings

200px
Type	Public company
Traded as	PSE: SMPH
Industry	Property, Shopping malls and retailing
Founded	Manila, Philippines (1958)
Headquarters	Pasay City, Philippines
Number of locations	57 malls (as of May 13, 2016)
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 57 operating malls totalling a gross floor area of 5.5 million square meters located in the following locations: Metro Manila, Baguio City, Pangasinan, Cauayan City, Central Luzon (Cabanatuan City, Bulacan, Pampanga and Angeles City, Tarlac and Olongapo City), CALABARZON (Cavite, Laguna, Batangas, Rizal and Lucena City), Naga City, Visayas (Iloilo City, Bacolod City and Cebu City) and Mindanao (Davao City, Cagayan de Oro City and General Santos 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. 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.

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.

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

On May 17, 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).

Malls

Philippines

Main article: SM Supermalls

China

Name	Opening	Floor area (m²)	Location
SM City Xiamen	December 13, 2001	126,000	2F, SM City, NO468 Jiahe Road, Xiamen City, Fujian, China
SM City Jinjiang	November 26, 2005	170,000	Fu PU SM International Square, Jinjiang City, Fujian, China
SM City Chengdu	October 20, 2006	176,000	SM City (CHENGDU) NO.29, Section.2 of 2nd Ring Road, Chengdu City, Sichuan, China
SM Lifestyle Center	October 30, 2009	109,947	3F, SM Lifestyle Center, NO468 Jiahe Road, Xiamen City, China
SM City Suzhou	September 23, 2011	69,275	No. 1109, Yuehu Road, Wuzhong District, Suzhou City, Jiangsu China
SM City Chongqing	December 14, 2012	146,323	No. 148 Songshi Avenue, Ranjiaba, Yubei District, Chongqing City, China 401120

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.

Standalone department stores

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

Name	Opening	Location
SM Quiapo (Clearance Store)	November 1972	Carriedo St., Quiapo, Manila
SM Makati (Flagship Store)	September 1975	Ayala Center cor. EDSA, Makati City, Metro Manila
SM Cubao	October 1978	Araneta Center, Cubao, Quezon City, Metro Manila
SM Delgado (Iloilo)	May 1979	Valeria Street cor. Delgado Street, Iloilo City, Iloilo
SM Harrison	October 1984	Adriatico St., Malate, Manila

Hotels and Conventions

{{ Pico Sands Hotel Pico de Loro Beach and Country Club Taal Vista Hotel}}

See also

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

External links

• SM Prime Holdings