SM Prime marks 30th anniversary with record-breaking income, PHP 100 billion investment for 2024

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Manila, Philippines - SM Prime Holdings, Inc. (SMPH), the leading integrated property developer in the Philippines, marks its 30th anniversary as a publicly listed company with the announcement of its highest-ever recorded income and a ₱100 billion investment for its partners, stakeholders, and communities they operate in.

SM Prime’s : Assistant Corporate Secretary Arthur Sy, Corporate Secretary Atty. Elmer Serrano, Chief Finance Officer and Chief Compliance Officer John Nai Peng Ong, President Jeffrey Lim, Independent Director Atty. Darlene Marie Berberabe, Chairman of the Board Henry Sy Jr., Vice Chairman and Lead Independent Director Amando Tetangco Jr., Non-Executive Director Herbert Sy, Chairman of the Executive Committee Hans Sy, and Non-Executive Director Jorge MendiolaSM Prime Holdings, Inc.

Meanwhile, SM Prime’s residential business group, led by SM Development Corporation , recorded an 8% growth in revenues to PHP43.1 billion in 2023. The residential group’s gross profit rose by 15% to PHP25.4 billion, with reservation sales standing at PHP102 billion. SM Prime aims to continuously expand and develop new places for every Filipino to enjoy. 60% will be dedicated to enhancing its malls, development of new residential properties under SMDC, and construction of new hotels and convention centers. 40% will be directed towards acquiring new properties and coastal developments to pave the way for modern, eco-friendly urbanization.

 

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